HomeCoinsBitcoin (BTC)US Fintech Firm Acorns Adds Crypto Exposure Investing via Proshares Bitcoin ETF...

US Fintech Firm Acorns Adds Crypto Exposure Investing via Proshares Bitcoin ETF – Bitcoin News

- Advertisement -


The American financial technology (fintech) firm Acorns has announced customers now have the option to add bitcoin exposure via the Proshares Bitcoin Strategy ETF (BITO). Acorns’ clients can now allocate up to 5% of their funds into BITO.

Acorns Customers Can Add Bitcoin Exposure to Their Portfolios

U.S. fintech company Acorns detailed on Tuesday that it has seen increased demand for cryptocurrency investments. The Irvine, California-based company specializes in micro-investing and robo-investing. Acorns was launched ten years ago by the father and son team Walter Wemple Cruttenden III and Jeffrey James Cruttenden. Statistics indicate that in 2020, Acorns held $3 billion in assets under management (AUM) and had 8.2 million customers.

According to the announcement on Tuesday, the fintech company determines how much of a customer’s portfolio can be allocated into the Proshares Bitcoin Strategy ETF (NYSE: BITO). In an interview, Acorns’ chief executive officer, Noah Kerner, said there’s a 1% conservative option and up to an “aggressive” 5% exposure in the portfolio options. Kerner explained that roughly 4.6 million of the company’s customers have not invested in digital currencies because of a lack of understanding.

“We’re really trying to drive home the philosophy of diversification and the principles of long-term investing,” Kerner remarked.

Kerner also mentioned that customers have not invested in digital currencies because of volatility. The Proshares Bitcoin Strategy ETF is currently trading for $26.91 per share and it is down 37.88% from its $43.32 all-time high (ATH) on November 9, 2021.

“Something like bitcoin or any volatile asset class, it’s fine and sensible to have exposure to it, but it should be through the lens of a balanced portfolio,” Kerner concluded.

This month, Acorns raised $300 million from strategic investors in a finance round led by TPG. The injection of capital lifted the company’s valuation to $1.9 billion. A trend of robo-investing and micro-investing firms have been moving toward cryptocurrency investments over the last 12 months. This includes firms like Betterment, TD Ameritrade, Wealthfront, and Robinhood Markets Inc.

Tags in this story
Acorns, Acorns Bitcoin, Acorns BTC, Acorns’ CEO, Betterment, Bitcoin exposure, bito, BTC, BTC portfolio, Crypto, Cryptocurrencies, micro investing, Noah Kerner, Proshares ETF, Robinhood Markets, Robo-advisor, robo-investing, TD Ameritrade, Volatile, volatile price, Wealthfront

What do you think about Acorns adding bitcoin exposure investing via Proshares’ BITO ETF? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



First published here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 17,170.03
ethereum
Ethereum (ETH) $ 1,275.35
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 110.74
litecoin
Litecoin (LTC) $ 76.69
eos
EOS (EOS) $ 1.05
okb
OKB (OKB) $ 21.35
tezos
Tezos (XTZ) $ 0.994754
leo-token
LEO Token (LEO) $ 3.76
cardano
Cardano (ADA) $ 0.312488
monero
Monero (XMR) $ 147.41
stellar
Stellar (XLM) $ 0.085194
chainlink
Chainlink (LINK) $ 6.92
huobi-token
Huobi (HT) $ 6.44
tron
TRON (TRX) $ 0.05494
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 46.87
neo
NEO (NEO) $ 7.06
iota
IOTA (MIOTA) $ 0.207522
nem
NEM (XEM) $ 0.033528
zcash
Zcash (ZEC) $ 45.84
maker
Maker (MKR) $ 614.08
paxos-standard
Pax Dollar (USDP) $ 0.999856
ethereum-classic
Ethereum Classic (ETC) $ 19.17
vechain
VeChain (VET) $ 0.019191
true-usd
TrueUSD (TUSD) $ 1.00
kucoin-shares
KuCoin (KCS) $ 6.60
waves
Waves (WAVES) $ 2.09