eToro Offers Exposure to BTC With New Stocks Portfolio
- The BitcoinWorldWide thematic portfolio will be based on the companies in the value chain behind Bitcoin.
- It will not include companies that hold BTC in their treasuries, but have no business around it.
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In a press release published on 26 April, eToro said the portfolio’s core focus will be the companies operating to support Bitcoin adoption. Dani Brinker, eToro’s Head of Portfolio Investments, said that while Bitcoin’s price makes headlines, the most significant change in the industry comes from the companies building value around it.
“Our aim is to provide retail investors with an easy way to get exposure to companies that deliver a service or product essential to the further adoption of bitcoin,” he said in the company’s release.
BitcoinWorldWide is one of over forty thematic CopyPortfolios available on eToro. Users can invest in the portfolio from as little as $1,000 without incurring any management fees, and it includes companies such as Paypal, chip manufacturer Nvidia, mining hardware producer Canaan, and Coinbase. It includes a Bitcoin allocation, as well.
The company intentionally excluded organizations that are bullish on Bitcoin but have no business units related to its activity. For example, eToro will not feature MicroStrategy in the portfolio as its treasury holdings are its only connection to Bitcoin. According to the company, Bitcoin’s value chain includes companies operating in the mining, semiconductor, payments, exchange, custodian, and insurance aspects, as well as the asset itself.
- The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against trading platform eToro over its contract for difference (CFD) product.
- The regulator claimed the product’s target market was too broad, and that eToro used insufficient screening tests when offering the leveraged derivative contracts to retail users.
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- The new partnership will expand on Twitter’s $Cashtags feature, which currently shows price data for a few chosen assets, and provide a wider range of crypto and stock prices.
- Twitter will also direct users to the investment platform through a “view on eTroro” tab, where they will be able to purchase or sale assets of their choice.
- On 26 December U.S. users will loose the ability to open new positions in ADA and TRX, and by 31 December will no longer be able to stake the tokens.
- eToro will limit the selling of the assets sometime in Q1 2022, after it has made its wallet compatible with ADA and TRX.