Gemini Surpasses $30 Billion in Crypto Under Custody

The news came shortly after Gemini announced the details of its cryptocurrency rewards credit card, to launch this summer.

article-image

Source: Shutterstock

share

key takeaways

  • The rapid growth of Gemini’s crypto under custody coincides with unprecedented institutional and retail interest in digital assets
  • The news came shortly after Gemini announced the details of its cryptocurrency rewards credit card, to launch this summer

Gemini now has more than $30 billion in cryptocurrency under custody, the digital currency exchange and custodian announced Tuesday. 

“Tracking with the impressive growth of the crypto market this year and increased participation from institutional investors, we have more than tripled our crypto under custody since the beginning of 2021,” Gemini said in a statement

Founded in 2014, the New York-based company offers custody and trading services to institutional clients and retail investors. 

The rapid growth of Gemini’s crypto under custody coincides with unprecedented institutional and retail interest in digital assets. 

A variety of venture capital firms are expanding crypto-related fund offerings, including  Andreessen Horowitz, Dragonfly Capital and Pantera Capital. Major financial institutions are also getting involved. Citigroup and Goldman Sachs have both announced plans to offer cryptocurrency services to clients in recent months. 

“Institutional sentiment is increasingly positive and demand is increasing daily,” said Haohan Xu, CEO of Apifiny. “Bitcoin and ETH have had a tremendous move as compared to the S&P 500. The need for private equity and family offices to perform for their clients is opening new doors for digital assets.” 

The news came shortly after Gemini announced the details of its cryptocurrency rewards credit card, to launch this summer. Mastercard will be the exclusive card network and Salt Lake City, UT-based WebBank will issue the card, Gemini said. 

Cardholders will receive cash back, up to 3%, in the form of cryptocurrency. Clients will be able to choose from 30 different digital currencies.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Research Report Templates.png

Research

An overview of the Base Ecosystem, with a focus on market leaders.

article-image

Although bitcoin hitting $120k by year’s end is looking unlikely

article-image

About 270 million HYPE has been claimed, valued around $7.6 billion

article-image

Stanford professors David Mazières and Dan Boneh will lead the lab alongside a cohort of graduate student researchers

article-image

With more companies holding BTC, bitcoin yielding strategies could become “a new corporate finance norm,” CoinShares posed

article-image

The proposal comes after Polygon governance considered a controversial use of bridged liquidity for yield

article-image

Can the community balance its decentralized ethos with the need for inclusivity and constructive debate?