Parents Can Invest in Crypto for Their Kids Via Startup – Blockworks

  • Venture capital firm Seven Seven Six and crypto platform Gemini participated in EarlyBird’s $4 million funding round in November
  • Users can now more easily set recurring investments, gift bitcoin and ether to kids, co-founders say

Childhood investment specialist EarlyBird has tapped digital asset platform Gemini to add crypto to its available asset classes .
EarlyBird — a registered investment adviser that until now focused on stocks and bonds — told Blockworks Tuesday that it ’ second launching its beginning crypto choice. Gemini, an investor in EarlyBird, is set to provide hands for the digital assets .
The startup offers custodial accounts opened by a parent, proportional or friend on behalf of a minor. The idea behind the accounts, which offer no tax advantages like a 529 design for college savings, is to give children a jumpstart on investing .
Additions to the EarlyBird Crypto waitlist will get early access to the offer later this class, the ship’s company announced.

“ We want to ensure that all american families have access to the future of wealth creation, ” EarlyBird Co-founder and CEO Jordan Wexler told Blockworks. “ They will live in a world that is profoundly ingrained in blockchain technology, Web3 and of course cryptocurrency, and we want to ensure that these kids have exposure to all of those digital assets as function of their core portfolio. ”
Crypto investments for now will be limited to bitcoin and ether, but the company said that could change in the future — including when it comes to NFTs .
The crypto offer follows EarlyBird ’ south third round of fund in the fourthly stern last year, with venture capital firm Seven Seven Six leading the $ 4 million round. Gemini besides participated .
Founded in December 2020, EarlyBird presently offers five investment portfolios .
Gemini backed EarlyBird via its Frontier Fund, the party ’ south venture arm. Launched in the second gear quarter of 2021, the fund has about 30 portfolio companies, according to Marshall Beard, Gemini ’ mho head of strategy and corporate development .
“ When I think about investing through the fund, I think about how does this digest Gemini ? ” Beard said. “ Does this tip to a partnership, does this lead to an acquisition ? Are they working on engineering that we don ’ t have expertness in ? Are they working on technology that we don ’ t have the bandwidth to do ? ”
Gemini has been focused on expanding its institutional business. The company announced its bargain of digital asset portfolio management platform BITRIA earlier this month and revealed its purchase of trading technology platform Omniex.

Gemini ’ s partnership with EarlyBird fills a gap for the company by offering crypto access to children, Beard explained .
“ In the future, as we expand wealth management, as we expand investment management, as we expand family plan, we ’ rhenium going to work with EarlyBird, ” he said .
EarlyBird made several hires following the latest fund-raise, COO and Co-founder Caleb Frankel told Blockworks, including Will Steiner, its head of message and literacy .
Users on the EarlyBird Crypto waitlist will receive a six-part class via e-mail about crypto and blockchain technology. The mind, Frankel said, is to showcase to parents crypto ’ second potential as a long-run asset .
“ What our customers were actually asking for was the opportunity to be able to not good gift popularize crypto or a crypto ETF, but the ability to gift a specific asset to tell the narrative about the engineering, ” Frankel said .
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  • Ben Strack

    Ben Strack is a Denver-based reporter covering macro and crypto-native funds, fiscal advisors, structured products, and the consolidation of digital assets and decentralized finance ( DeFi ) into traditional finance. Prior to joining Blockworks, he covered the asset management diligence for Fund Intelligence and was a reporter and editor for assorted local newspapers on Long Island. He graduated from the University of Maryland with a degree in journalism. Contact Ben via electronic mail at [ electronic mail protected ]

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