Gemini becomes custody partner for Canadian crypto ETF manager Evolve ETFs
Crypto exchange Gemini will safeguard assets for Evolve’s leveraged Bitcoin and Ether ETFs, which aim to optimize returns through cash borrowing.
Winklevoss-founded cryptocurrency exchange Gemini will serve as the custodian for Canadian asset manager Evolve Funds’ newly launched leveraged Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds, LBIT and LETH, which began trading on the Toronto Stock Exchange on Tuesday, offering what Evolve calls “modestly leveraged” exposure to retail investors.
In a blog announcement, Gemini said the ETFs aim to provide investors with 1.25x exposure to BTC and ETH, using cash borrowing instead of derivatives to amplify returns. Unlike traditional levered ETFs that use…
