Saving and investing app Acorns announced an option Tuesday for customers to further diversify their portfolio in emerging market opportunities like Bitcoin BTC/USD.
In a statement to Benzinga, Acorns CIO Seth Wunder said the company's philosophy is rooted in time-tested principles of compounding, long-term investing and diversification.
“To keep growing, we look for new ways to lean into these principles. Exposure to Bitcoin can help further diversify our customers' portfolios for the long-term.”
More than 60% of Acorns customers are first-time investors. To reinforce responsible investing over long periods of time, Acorns offers users what it calls a “Bitcoin manifesto,” an educational experience.
Additionally, crypto investments are limited to 5% of portfolios.
“We believe in opening access to invest the right way, responsibly for the long term. This is not trading; we’re offering the option for the crypto curious to add up to 5% Bitcoin exposure into a well-balanced, diversified portfolio. Adding a small allocation of Bitcoin exposure to a diversified portfolio is the perfect way to introduce more people to the asset class.”
Alternatively, Acorns is offering optional Bitcoin exposure via ProShares’ BITO ETF BITO, the first U.S. Bitcoin-linked ETF.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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