Alternative Investments/Digital: eToro Launches Bitcoin-Themed Portfolio
eToro, the world’s leading social investment network, offers exposure to companies in the value chain behind bitcoin.
Last week, eToro flagged off its BitcoinWorldWide product, a thematic portfolio. The platform described it as “a new innovative CopyPortfolio,” covering the value chain created from activities related to bitcoin.
The portfolio requires a minimum investment of $1,000, and there are no management fees. However, other costs, including spread and conversion fees (for those not depositing in USD), will apply. (Mondovisione)
Companies are creating the bitcoin ecosystem
“As it crosses into mainstream awareness, bitcoin is increasingly in the spotlight,” says Dani Brinker, eToro’s Head of Portfolio Investments. “New all-time highs might make headlines, but the most significant change surrounding the world’s largest crypto is not its price, but the companies building the value chain around it.
“From mining operations to chip manufacturers and those delivering services to support usage, payments, exchanges, and custody, there’s more to bitcoin than you might think.”
This eToro CopyPortfolio will seek opportunities in the bitcoin value chain sectors such as mining, semiconductor, payments, exchange, custodianship, and insurance spaces, as well as the asset itself.
However, any company that does not operate a business related to bitcoin, but only invests its assets in the crypto, would be excluded. Example: MicroStrategy (NASDAQ: MSTR).
Paypal (NASDAQ: PYPL), chip manufacturer Nvidia (NASDAQ: NVDA), mining hardware producer Canaan (NASDAQ: CAN), and newly public crypto exchange, Coinbase (NASDAQ: COIN), are included.
“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,” explains Dani Brinker. “It is a broader approach to bitcoin investing that offers a diversified investment, uncorrelated with the bitcoin itself, but maintains exposure to the growth potential of the crypto sector.”
eToro offers as many as forty thematic CopyPortfolios on its platform.
eToro to go public via SPAC deal
In March, eToro announced that it would merge with blank cheque company FinTech Acquisition Corp V in a $10.4bn deal.
The merger is expected to close in the third quarter of 2021.
Related Story: Blank Check Company Raises $230M In SPAC IPO
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