Predict your next investment

See what CB Insights has to offer

Investments

1

About Dave Abner

Dave Abner Headquarter Location

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Dave Abner News

Gemini moves into wealth management with Bitria acquisition

Jan 14, 2022

The $7.1 billion cryptocurrency exchange has agreed to purchase Bitria, a 5-year-old startup that provides advisers with tools to access and manage holdings of Bitcoin and other tokens. January 14, 2022 Gemini Trust Co., a cryptocurrency exchange for retail investors, is moving further into wealth management with the acquisition of a digital asset platform for financial advisers. The $7.1 billion exchange has agreed to purchase Bitria, a 5-year-old startup based in San Francisco that provides advisers with tools to access and manage holdings of Bitcoin and other tokens. The web-based application gives an adviser discretionary management over digital assets including Bitcoin, Ethereum, Bitcoin Cash and Litecoin, among others, purchased through a custodian and exchange. “Clients want access to the wider range of crypto, and Bitcoin ETFs that are available now — or could be coming in the future — are just very, very narrow,” said Dave Abner, Gemini’s global head of business development. “Bitcoin is just the gateway.”  Advisers can onboard their clients directly onto the platform and adopt either a model-based approach, where portfolio changes are made to all accounts at once, or a client-by-client basis. Alternatively, an adviser can use the platform via a separately managed account structure. “Advisers have the ability to tailor portfolios and add breadth and depth to build portfolios for particular clients,” Abner said. According to the latest U.S. Future Flows report by InvestmentNews Research, about a third of all advisers surveyed expect to increase their clients’ exposure to digital assets in the coming years. A similar report from IN early in 2021 found that while only 10% of advisers were currently using crypto, 44% believed they would be using it within five years. With approximately $20 trillion in assets under management already in advised accounts in the U.S., demand for crypto could potentially funnel billions of dollars into digital assets in the coming years, according to data provided by Gemini. “Investors are moving money off of advisory platforms to go and buy crypto on exchanges,” Abner said. “It’s very clear that money is moving, and working with a platform means advisers can better help their clients.” Gemini initially announced a partnership with Bitria in August 2020. “The future of wealth management lies in digital assets and blockchain technology,” Bitria founder and CEO Daniel Eyre said in a statement, adding that the Gemini acquisition creates a “bridge to that future.” For reprint and licensing requests for this article, click here

Dave Abner Investments

1 Investments

Dave Abner has made 1 investments. Their latest investment was in Betterment as part of their Series A on December 12, 2010.

CBI Logo

Dave Abner Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/2/2010

Series A

Betterment

$3M

Yes

Date

12/2/2010

Round

Series A

Company

Betterment

Amount

$3M

New?

Yes

Co-Investors

Sources

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.