Besides, 40% of Acorns customers said they were interested in investing in crypto.īut here’s the thing: While it’s initially only available to Acorns brokerage accounts, the company says it will eventually roll this out to retirement accounts as well, although it won’t specify a timeline. The BITO ETF is an investment that trades on an exchange, so it is highly liquid and is a regulated investment product. “And that was the analysis that we went through, and also why we think it’s the right way to invest in Bitcoin-to make sure that you’re adding bits of Bitcoin over time.”īitcoin has been around for 13 years, and its market cap has hit $1 trillion (though it’s currently just over $800 billion). “You can construct portfolios that will have lower, more diversified risk over the long-term, even by adding a singular asset that might itself be risky,” Wunder tells me. Bitcoin and other cryptocurrencies behave differently than the traditional stock and bond markets, so it can act as a diversifier to an overall portfolio. The benefits were clear to Acorns’ investment team, Chief Investment Officer Seth Wunder tells me.
(An ETF that invests directly in Bitcoin hasn’t been approved yet by the Securities and Exchange Commission, so BITO invests in Bitcoin futures and some other holdings like money market instruments).
Nearly every app that caters to young investors offers Bitcoin now, and sometimes Ether and other cryptocurrencies, too: Robinhood, Public, SoFi, WeBull-you name it.īut today, long-term savings and investing unicorn Acorns is joining the fray, and it feels a bit different this time around.Īcorns, the Irvine, Calif.-based fintech that allows people to invest their spare change, said this morning that it would add optional Bitcoin exposure to its portfolios-permitting its more than 4.6 million users to invest up to 5% of their portfolios in the ProShares Bitcoin Strategy ETF, also known as BITO. And by “they” I mean all the brokerages that have been lining up to offer it to customers.
0 kommentar(er)
