Investment app Acorns catches crypto bug, adds bitcoin exposure

investing app Acorns has added the option for its exploiter to invest up to 5 % in BTC via their investment accounts .
Acorns is an investing fintech that popularized the feature to invest spare change into prebuilt portfolios along with bank services such as a check report .
According to the announcement, the Galaxy Digital-backed company says that it implemented the feature as their 4.6 million subscribers expressed interest in cryptocurrencies. chief executive officer of Acorns Noah Kerner, however, stressed that it is “ not deal ” and rather is a way for customers to invest in a explosive asset as separate of a long-run diversify portfolio .
Acorns will not allow users to purchase bitcoin immediately, but quite gain exposure via ProShare ‘s Bitcoin futures exchange-traded fund.

“ We believe in opening access to invest the right way, responsibly for the long term, ” said Acorns chief investment policeman Seth Wunder. “ Adding a little allotment of bitcoin exposure to a diversify portfolio is the perfect way to introduce everyday Americans to the asset class. ”
In an interview with The Block, Wunder said that the party ‘s move into crypto reflects the changing fiscal demands of investors following the COVID-19 pandemic. In Wunder ‘s see, investors want to be more actively involved in their investment decisions than ahead and expand outside of cooking-cutter portfolios. That ‘s discernible in the count of brokerage house accounts that have opened in the aftermath of the pandemic and versatile government-enforced lockdowns .
To meet these raw needs, Acorns besides plans to offer customizable portfolios and the ability to invest in person stocks .
“ You have to meet them where they are, ” said Wunder, who took on the position of CIO about six months ago. “ Society went through a pendulum swing … will the same excitement in investing exist when we move past the pandemic, possibly ? ”

He added :

“ Our subcontract is to make surely our customers have the best assets to invest in in the best risk-adjusted framework. When you look at bitcoin it has 10 years of history under its belt and five years of a real deal framework. ”

Acorns join a growing list of fintechs that have caught the crypto bug.

Earlier this month, Nordic neobank Lunar announced it was rolling out crypto tools alongside a $ 77 million arouse. The UK ‘s Revolut has long offered crypto investment tools and is said to be exploring a native token. Germany ‘s N26 is besides reportedly due to launch a crypto trading tool through a partnership with Bitpanda .
In the US, robo advisers have entered the market, with Betterment acquiring a crypto portfolio avail earlier this year. Wealthfront, which was acquired by investment banking and wealth management firm UBS, besides allows its clients to access crypto exposure .
Founded in 2012, Acorns manages more than $ 12.5 billion. Most recently, the fintech firm abandoned its SPAC plans in favor of a $ 300 million lift led by secret fairness firm TPG .

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