Today marks the one-year anniversary of Gemini Block Trading™, a fully electronic block trading facility. Block trading enables our customers to buy and sell large quantities of digital assets outside of Gemini’s continuous order books, creating an additional on-exchange mechanism to source liquidity when trading in greater size.

Gemini customers have executed over $100mm (notional) of orders via Gemini Block Trading™, since its launch. This has not only been a great trading mechanism for institutional customers, but also for our individual customers who make up more than 85 percent of all block trading customers.

This is a great milestone as we **_build the future of money_**. We look forward to the many milestones to come in the years ahead!

Onward and Upward,

Team Gemini

Gemini Block Trading: One-Year Lookback

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Weekly Market Update

031524

New HBO Documentary Hints at Identity of Bitcoin Inventor, Crypto Pulls Back Amid Elevated US Inflation Numbers

As we enter the final three months of 2024, the cryptocurrency world is emerging from the crypto winter. Following a decade-long initiative by the industry, crypto ETFs launched in the US. Institutional players have poured billions into digital assets. And the crypto retail market appears poised to rebound. 

Gemini’s ninth anniversary was this past Saturday, so it’s the perfect moment to look back over the previous year to celebrate some company milestones as crypto cements itself as part of the global financial ecosystem. 

Put simply, there is ample reason for optimism as we look ahead to 2025 and beyond. Our progress in 2024 will set the stage for Gemini’s continued growth as a global crypto platform as we advance our mission to unlock the next era of financial, creative, and personal freedom.

Below is an overview of the most impactful moments:

### Continuing to Serve as a Trusted Custodian for Institutions

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.

Over the past few months, the 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 highly anticipated spot ether ETP, building on a relationship that began after custodying their spot bitcoin ETF just months prior.

### Struck Five-Year Deal With Real Bedford 

In April, Tyler and Cameron Winklevoss made English football history [when they invested $4.5 million in Real Bedford Football Club through Winklevoss Capital.](https://www.gemini.com/blog/cameron-and-tyler-winklevoss-invest-usd4-5m-of-bitcoin-into-real-bedford) It was 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.

### Uncovered the Resilience of Crypto Investors 

In September, [Gemini released the 2024 Global State of Crypto report,](https://www.gemini.com/blog/introducing-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. More than one in four (26%) past owners said the same, signaling many may soon be re-entering the crypto market.
- In the US, nearly 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.
- More than 70% of past owners say they are likely to buy cryptocurrency in the next year.

### Launched New Features for ActiveTrader and Derivatives

Gemini had a busy year rolling out new product updates for ActiveTrader and the derivatives platform.

In June, we 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 new Dual Markets tool, adjustable layouts, improved analysis features, and more.

We also 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.](https://www.gemini.com/blog/introducing-seamless-sgd-to-gusd-transfers-on-geminis-derivatives-platform) These new features will help our customers take their derivatives trading to the next level. 

### Onward and Upward!

Over the past year, we have made significant gains with retail and institutional investors, elevating our brand presence globally, bolstering our product offerings, and building out our editorial arm. And we’re just getting started. 

So hop on board and join us as we unlock the next era of financial, creative, and personal freedom.   

Onward and Upward!<br> 
Team Gemini


INDUSTRY

Gemini Block Trading: One-Year Lookback

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