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Crypto Portfolio Discontinuation Instructions

Published

Betterment crypto portfolios (Universe, Sustainable, or BTC/ETH) have been discontinued. We now offer a new Crypto ETF portfolio.

If you had a Betterment Crypto portfolio (Universe, Sustainable, or BTC/ETH) and did not withdraw your funds by 12:00 PM ET on November 20, 2024, your portfolio balance is currently being held at Gemini, the cryptocurrency exchange and custodian that Betterment has partnered with to custody your existing crypto portfolio.

Follow the instructions below to access your crypto funds.

How to access your crypto assets at Gemini in an unmanaged account

To access your assets at Gemini, you will need to follow the account transfer instructions below to create or configure your Gemini account. Note that your account at Gemini is subject to the Gemini User Agreement and other agreements required by Gemini. The account transfer instructions below can take up to eight business days to process.

Gemini account transfer instructions:

  1. Open Gemini account: Create an account at Gemini using the same email as associated with your Betterment account.
    1. If you already have an account at Gemini, skip to step 2 
  2.  Email Gemini Client Services: Send an email to institutional@gemini.com from the email address on your Gemini and Betterment accounts using the following subject line and email message:
    1. Subject: Betterment - Gemini Account Recovery
    2. Message: Please transfer all cryptocurrency funds from my Betterment account to my Gemini retail account associated with this email address. 
  3. Receive transferred funds: Once Gemini processes your request, the funds should be transferred within eight business days.

Termination of Crypto Addendum

In connection with this notice, on November 20, 2024, Betterment terminated its crypto addendum to your advisory agreement and will no longer manage your crypto portfolio held at Gemini.

Tax Forms

Your tax forms for the tax year 2024 will be available in your Betterment account in early 2025. To prepare your 2024 taxes, we are providing customers with both a gain/loss report and a transaction report. You can download them in the document section when logged in to your account:

  • Web browser: Navigate to Documents > Taxes > Crypto.
  • Mobile app: Open the menu and tap Documents > Taxes > Crypto.