Acorns App Users Can Now Invest In Bitcoin: What You Need To Know

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyFintechMarketsAcornsSeth Wunder
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...