BTG Pactual

Brazil’s BTG Pactual Partners Gemini to Provide Custody For Its Bitcoin Fund

2021 will be remembered as the year of Crypto. Cryptocurrencies have been taking over the financial markets around the world, and big institutions are slowly warming up towards digital assets.

The Crypto boom has already made waves in South America, with Brazil’s stock exchange announcing two cryptos ETFs in Latin America last month.

Now, one of the country’s biggest investment bank, BTG Pactual, is partnering with Gemini – a Cryptocurrency and Bitcoin exchange, for custody services.

Gemini has provided custodial services to an increasing number of financial institutions and fund managers and announced its latest move in a blog post. According to Gemini, the recently launched Bitcoin fund will invest 20% of BTG Pactual’s Assets in Bitcoin and plans to release more products in the future.

The rest of the fund’s investment portfolio will comprise Treasury bonds (55%), Bank deposit certificates (20%), and repo operations (5%).

Customers can purchase a stake in the fund, starting with an investment of as low as $0.18. Administrative fees for the fund also stand at a low 0.5%.

BTG Pactual has been a long-time backer of Cryptocurrencies and plans to launch a three-episode educational series on Cryptocurrencies. The video series will explain the origins, investment procedure, and institutional adoption of Bitcoin.

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