Back in April of this year, Onramp brought to market the first ever security-like vehicle for bitcoin exposure leveraging multi-institution custody. The Onramp Bitcoin Trust – a grantor trust governed by the Wyoming Statutory Trust Act – provides clients with 1-1 exposure to spot bitcoin that is held in a 2-of-3 multisig vault with private keys distributed across three separate institutions – Onramp, Kingdom Trust, and BitGo. Importantly, the trust structure allows for in-specie redemptions without a taxable event, a step-function improvement upon existing bitcoin trust structures on the market today, as well as proposed ETF structures.
Given the demand we observed over the summer for various bitcoin-exposure vehicles leveraging the multi-institution custody model, Onramp is relaunching to realize our full vision – a comprehensive global bitcoin asset management platform purpose-built for institutions and HNWIs, all built on the foundation of multi-institution custody.
In pursuit of our overarching goal to provide clients with a differentiated form of bitcoin custody that maximizes security while minimizing counterparty risk, we’re expanding our platform beyond the Onramp Bitcoin Trust, in partnership with BitGo, to bring to market the very first multi-institution custody solution requiring multiple financial services entities to independently onboard and verify a client’s unique controls when processing withdrawal requests. BitGo, having pioneered the first implementation of a multi-signature wallet and being the industry leader in bitcoin infrastructure for the past 10 years, was a natural partner for us to bring this custodial offering to market. We are equally excited to add Coincover, in addition to Kingdom Trust, to our institutional key partner quorums for Onramp’s growing global client base.
Experience: The Onramp team has diverse experience across the investment management, private wealth, venture capital, technology and management consulting industries at reputable firms such as Bain & Co, Brown Brothers Harriman, Stifel, Google, and Unchained. Since our initial launch, we’ve bolstered our executive team with individuals who understand both the worlds of bitcoin and traditional finance and are well equipped to deliver differentiated products and services designed to suit the needs of our investor base. Additionally, we are excited to share that David Thayer, executive advisor at Blackstone, has joined Onramp’s strategic advisory board.
Expertise: Drawing from extensive experience serving HNWIs, Family Offices, and Institutions, Onramp understands that the technical requirements of self-custody deter many investors. Through the experience gained from onboarding thousands of clients to bitcoin and billions of dollars to multisig bitcoin custody, we believe we’ve built the ideal custody solution to onboard the masses, combining the strengths of bitcoin’s native properties with the advantages of traditional institutional-grade custody.
Bitcoin Education & Advisory: At Onramp, we pride ourselves on being more than just an asset management firm; we’re educators at our core. We recognize that investors are all at different stages of their bitcoin journeys, and their ability to make successful long-term investment decisions is a function of strengthening their knowledge of this unique asset. That is why we’ve positioned research and education as the bedrock of our business strategy, aiming to provide investors with a comprehensive set of high-quality bitcoin resources, including written research (Onramp Insights, Dylan LeClair’s Weekly Roundups, Jesse Myers’ Once-in-a-Species), rich video content (The Last Trade podcast), and analytic tools (Onramp Terminal). We’re also excited to announce the upcoming launch of an interactive webinar series that will highlight fundamental tenets of the bitcoin thesis.
