Wealthfront, a financial services firm, now offers BTC and ETH exposure

Syed AhadWeb Editor

30th Jul, 2021. 08:43 pm

Wealthfront has revealed that it has added Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust to its current investing portfolio (ETHE). Over $25 billion in assets are currently managed by the automated investment service firm.

As a result, the company is now the first of its kind to offer bitcoin services as part of a broad portfolio. Tax-sensitive rebalancing, intelligent dividend reinvestment, and tax-loss harvesting are among the company’s automated features.

Customers may now gain exposure to the top two digital assets without the hassles, according to Wealthfront. “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.

Grayscale’s GBTC and ETHE trusts will now be eligible to receive up to 10% of their total portfolio allocation. The 10% allocation rule, according to Wealthfront, is in clients’ best interests. “best interests at all times, and these investments can be riskier and more volatile than most ETFs.”

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