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


The American financial technology (fintech) firm Acorns has declared customers currently have the choice to feature bitcoin exposure via the Proshares Bitcoin Strategy ETF (BITO). Acorns’ shoppers will currently assign up to five of their funds into BITO.

Acorns Customers will Add Bitcoin Exposure to Their Portfolios

U.S. fintech company Acorns elaborate on Tues that it’s seen inflated demand for cryptocurrency investments. The Irvine, California-based company makes a speciality of micro-investing and robo-investing. Acorns was launched 10 years ago by the daddy and son team music director Wemple Cruttenden III and Jeffrey James Cruttenden. Statistics indicate that in 2020, Acorns commanded $3 billion in assets below management (AUM) and had 8.2 million customers.

According to the announcement on Tues, the fintech company determines what quantity of a customer’s portfolio is allotted into the Proshares Bitcoin Strategy ETF (NYSE: BITO). In associate degree interview, Acorns’ chief military officer, Noah Kerner, aforementioned there’s a tenth conservative possibility associate degreed up to an “aggressive” five-hitter exposure within the portfolio choices. Kerner explained that roughly 4.6 million of the company’s customers haven’t invested in digital currencies owing to a scarcity of understanding.

“We’re extremely attempting to drive home the philosophy of diversification and therefore the principles of semipermanent finance,” Kerner remarked.

Kerner jointly mentioned that customers haven’t invested in digital currencies owing to volatility. The Proshares Bitcoin Strategy ETF is presently mercantilism for $26.91 per share and it’s down thirty 7.88% from its $43.32 incomparable high (ATH) on November 9, 2021.

“Something like bitcoin or any volatile quality category, it’s fine and wise to possess exposure to that, however it ought to be through the lens of a balanced portfolio,” Kerner finished.

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

The post US Fintech Firm Acorns Adds Crypto Exposure Investing via Proshares Bitcoin ETF first appeared on BTC Wires.



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