Gemini to Custody VanEck's Solana ETF

Gemini to Custody VanEck’s Solana ETF

Key Points:

  • Gemini expands its ETF custodianship with VanEck via Solana ETF.
  • Gemini will act as a custodian.
  • Extension of existing partnerships with Bitcoin and Ethereum.

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Gemini announced it will provide custody services for VanEck’s Solana ETF, expanding their ETF collaboration in the U.S.

The event highlights Gemini’s growing role in the crypto ETF space, emphasizing expanded custodianship and its implications for Solana’s market.

Gemini, founded by Cameron and Tyler Winklevoss, now serves as the custodian for VanEck’s U.S.-listed Solana ETF, enhancing its existing partnership with Bitcoin and Ethereum products. Gemini is New York-regulated and markets its institutional custody platform at regulated institutions.

Collaborating with VanEck, Gemini will handle custody, safekeeping, settlement, and trading connectivity for Solana ETFs, maintaining institutional infrastructure for ETFs. The Solana ETF follows previous ones for Bitcoin and Ethereum, positioning Gemini in broader crypto exposure.

The custody move impacts Solana directly, affecting institutional access and trading volumes. Gemini supports over 100 cryptocurrencies, offering regulated cold storage and integration possibilities. This action may influence the broader regulatory landscape and market participation.

The custody of Solana highlights Gemini’s competitive edge in crypto ETFs. Increased institutional attention might affect Solana’s liquidity and volume. Gemini’s regulatory framework positions it uniquely for future ETF developments.

Potential outcomes include increased institutional investments and enhanced regulatory attention towards crypto ETFs, as Gemini’s custody actions support broader market trends and regulatory structures. The event could set precedents in the crypto custodial landscape.

“Gemini serves as the custodian for the VSOL Solana ETF, positioning this as a milestone in the expanding crypto ETF ecosystem.” – Gemini Blog

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The content on nftenex.com is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.