Cryptocurrency exchange Gemini acquires BITRIA, a digital asset platform for wealth managers, Gemini Global Head of Business Development Dave Abner told CNBC in a phone interview. BITRIA is a San Francisco-based startup that helps financial advisors manage holdings of bitcoin (BTC-USD) and other cryptos, Abner told CNBC. Gemini plans to combine its crypto custody and exchange capabilities with BITRIA's portfolio management programs, enabling advisors to perform tax-loss harvesting, for example, Abner highlights. "Nobody else in the crypto space is looking at servicing the wealth management community the way that Gemini is," Abner told CNBC. "We're already the largest service provider to crypto ETFs globally. Now we are moving into the wealth space, and we're going to be the only pure-play service provider of crypto assets," he adds. However, Citigroup recently launched a digital asset unit within its wealth management division to provide its wealthiest clients access to the crypto markets.
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