Acorns, an American financial technology (fintech), has announced that customers can now add bitcoin exposure through the Proshares Bitcoin Strategy ETF. Acorns clients now have the option to allocate up to 5% from 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 micro-investing and robotics business is based in Irvine, California. 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). Noah Kerner, chief executive officer of Acorns, stated that there are two options for portfolio exposure. One is a conservative option with a maximum of 1% and one which allows for a more aggressive 5% exposure. Kerner said that approximately 4.6 million customers of Acorns have not yet invested in digital currencies due to a lack of knowledge.

” We’re trying to get across the philosophy of diversification as well as the principles of long-term investment,” Kerner said.

Kerner stated that customers have not yet invested in digital currencies due to 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 as volatile as bitcoin, it’s okay and sensible to be exposed to it but it should be viewed through the lense of a balanced portfolio,” Kerner said.

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

What do you think about Acorns adding bitcoin exposure investing via Proshares’ BITO ETF? Please comment below to let us know your thoughts on this topic.

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