Robo advisor Wealthfront adds support for Grayscale’s bitcoin and ether funds
Wealthfront has begun integrating crypto-related offerings into its robo-advisory offerings, starting with a pair of Grayscale funds.
The company, which signaled its move this spring as previously reported by The Block, is making the Grayscale Bitcoin Trust and Grayscale Ethereum Trust available alongside a raft of new options for users.
“GBTC and ETHE round out our significantly expanded menu of investment options. Clients can now choose from a bigger selection of ARK ETFs, pick ETFs that are specific to industries like cannabis or self-driving cars, or choose from a larger pool of socially responsible investments, just to name a few,” the firm said in a blog post Friday, explaining:
“You can add GBTC and/or ETHE to your portfolio by following the instructions here and selecting a combined allocation of up to 10% of your total portfolio. We limit your allocation to GBTC and ETHE because, as a fiduciary, we act in your best interests at all times, and these investments can be riskier and more volatile than most ETFs.”
In April, Wealthfront co-founder Dan Carroll previewed the push for a wider portfolio, selection, telling The Block: “We believe that Wealthfront can be the place where people invest responsibly alongside a diversified portfolio.”
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Michael McSweeney
