As we enter the final three months of 2024, the digital assets and blockchain ecosystem is emerging from the so-called crypto winter. After a decade-long initiative by the digital assets and DLT industry, crypto ETFs were officially introduced in the US markets. And institutional players have poured billions of dollars into the nascent digital assets sector. And the crypto retail market now seems to be poised to rebound. Meanwhile, Gemini recently marked its 9th year of operations.
Gemini noted in a blog post that it is now the ideal moment to thoughtfully reflect over the previous year to mark some digital asset firm’s key milestones as crypto continues to cement itself as part of the global financial sector.
According to the update from Gemini, there is “ample” reason for optimism as we look ahead to 2025 and beyond.
Gemini claims that their progress in 2024 will now aim to set the stage for Gemini’s continued growth as a global crypto platform as they focus on advancing their mission to unlock the next era of financial, “creative, and personal freedom.”
Since Cameron and Tyler Winklevoss founded Gemini a decade ago, Gemini has served retail investors looking for a “trusted, secure way” to buy, sell, and hold digital assets.
During the last few months, the digital assets and blockchain-focused company has vastly expanded services custodying cryptocurrencies for major institutional investors as well.
In June, Gemini became the custodian for a spot bitcoin ETF listed by Australia’s Monochrome Asset Management.
It is the only spot ETF in Australia that holds bitcoin directly.
That same month, Gemini became the custodian for a staking ether ETP launched by Purpose Investments.
With $230 million in AUM, the ETF was the largest staking ether ETP in North America at the time of launch.
In July, Gemini became the custodian for VanEck’s anticipated spot ether ETP, building on a relationship that began after custodying their spot bitcoin ETF just months prior.
In April, Tyler and Cameron Winklevoss reportedly made English football history when they invested $4.5 million in Real Bedford Football Club via Winklevoss Capital.
It was said to be the “largest” investment ever made in an English football club outside of the professional leagues.
The investment was paid upfront in bitcoin, enabling Real Bedford owner Peter McCormack to establish a bitcoin treasury to secure the club’s long-term goals, build a new training center, launch a football academy to nurture local talent, and more.
In July, Gemini struck a five-year sponsorship agreement with Real Bedford, giving the club long-term financial resources to continue climbing the English football ladder.
In September, Gemini released the 2024 Global State of Crypto report, which showed the crypto selling has largely slowed over the past six months and many past crypto owners appear poised to re-enter the market. Some of the findings included:
The majority (57%) of crypto owners say they are comfortable “making crypto a core part of their investment portfolio.”
Over one in four (26%) past owners said the same, “signaling many may soon be re-entering the crypto market.”
In the US, around two in five (37%) cryptocurrency owners surveyed said they “hold some crypto through an ETF.”
More than one in ten (13%) own crypto “exclusively through an ETF.”
Over 70% of past owners say they are “likely to buy” cryptocurrency in the next year.
Gemini had a “busy year” rolling out various product updates for ActiveTrader as well as the derivatives platform.
In June, they had launched ActiveTrader 2.0, “a high-performance” trading tool built to give you full control of your “crypto trading experience.”
The new ActiveTrader interface offers “enhanced usability” and more customization.
And you can now work smarter and more efficiently with Gemini’s Dual Markets tool, adjustable layouts, improved analysis features.
Gemini further noted that they continued to innovate for customers in jurisdictions who can use our derivatives platform, including making USDT and ethereum available as cross collateral for derivatives trading, and implementing seamless SGD to GUSD transfers.
These new features will help Gemini customers take their derivatives trading to the “next level.”
During the last year, Gemini claims that they have made considerable gains with retail and institutional investors, elevating their brand presence globally, while also enhancing their product offerings.