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Investment Service Firm Wealthfront now offering BTC and ETH Exposure

Investment Service Firm Wealthfront now offering BTC and ETH Exposure
Automated investment service firm Wealthfront Inc. has announced it will be adding bitcoin and ethereum trusts through Grayscale. 



Wealthfront has announced that the company has expanded its current investment portfolio to include Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE). The automated investment service firm currently manages over $25 billion in assets.   



The company now becomes the first of its kind to offer exposure to cryptocurrency services as part of a diversified portfolio. The company includes automated features such as tax-sensitive rebalancing, intelligent dividend reinvestment and tax-loss harvesting. 



Wealthfront announced that customers can now gain exposure to the top two digital assets, without the hassle. “It takes time and effort to research all of the options, set up a wallet, and monitor an additional account. That’s why we’ve made it easy to get exposure to Bitcoin and Ethereum right in your Wealthfront portfolio, no wallets required. Instead of buying coins yourself, you can invest in GBTC and ETHE ,” the announcement stated.



Customers will now be able to add up to 10% of their entire portfolio allocation to Grayscale’s GBTC and ETHE trusts. Wealthfront further stated that the 10% allocation rule is in customers “best interests at all times, and these investments can be riskier and more volatile than most ETFs.” 



Grayscale fueling crypto adoption



Grayscale remains at the forefront of institutional crypto adoption with its latest offering to Wealthfront. The company recently announced the launch of its second diversified crypto fund. The fund, which is called the Grayscale Decentralized Finance (DeFi) Fund will focus solely on DeFi projects.  The company’s other diversified fund is the Grayscale Diversified Large Cap (GDLC) Fund. 



Grayscale has also made inroads with the Bank of New York Mellon in an agreement that will see the company provide exchange traded funds (ETF) services directly to the bank. The move is set to strengthen Grayscale’s chances at getting a Bitcoin ETF approved by the United States regulators.  
The post Investment Service Firm Wealthfront now offering BTC and ETH Exposure appeared first on BeInCrypto .

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