Betterment’s robot adviser provides a cryptocurrency product with four themed portfolios – BollyInside

After completing a private beta period, Betterment, a roboadvisory platform that manages more than $30 billion in assets, has officially launched its cryptocurrency offering. The financial company bought Makara, a firm that provided crypto asset management services, back in February, and has been trying to develop Makara into its own exclusive crypto product ever since the purchase was finalised.
Proudman estimates that each of the four portfolios that were released today has about 25 different cryptocurrencies, grouped as follows:
According to the company’s vice president of cryptocurrency, Jesse Proudman, the new service, dubbed Crypto Investing by Betterment, launches to Betterment’s retail and adviser customers today with four themed, customisable portfolios that let consumers invest in curated collections of digital assets. According to him, Betterment has more than 730,000 clients across all of its business segments and product lines.
“Universe,” which claims to provide comprehensive insight into the cryptocurrency landscape and includes tokens like Bitcoin, Ethereum, Chainlink, and Filecoin; “Sustainable,” which focuses on green blockchains like Ethereum, which recently switched to a proof-of-stake (PoS) transaction verification mechanism; and other PoS chains like Solana and Tezos; and “Metaverse,” which is made up of assets related to immersive online experiences like gaming and digital commerce, including Bitcoin.
Many of our clients are either interested in or have already made investments in cryptocurrencies, but due to the DIY aspect and the rapid rate of change in this asset class, they are experiencing pressure. In response, they expressed interest in this type of managed, tailored service, according to their comments, Proudman added.
Proudman mentioned that the product will have a guideline instructing customers to keep their cryptocurrency exposure to no more than 5% of their investable assets.
According to Decrypt, Makara, which is registered with the U.S. Securities and Exchange Commission, began operations last June with 20,000 customers and $1 million in assets under control.
The Winklevoss twins-run cryptocurrency exchange Gemini and Betterment announced last month that they will collaborate to create the cryptocurrency portfolios and act as the assets’ custodian. The business recently announced a public fundraising round in September of last year, raising $160 million at a valuation of $1.3 billion.
In comparison to other investment platforms like Robinhood and Acorns, the company has added cryptocurrency somewhat slowly. This may be because the company wants to emphasise the value of long-term investing, especially given how unpredictable the crypto markets remain. The debut of Betterment comes just a week after investing app Stash unveiled its own cryptocurrency service, which was motivated by a long-term, anti-trading ethos in contrast to the short-term trading mindset frequently associated with Robinhood’s growth.
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