One of the largest auto investment companies in the world will offer the opportunity to invest in Bitcoin (BTC) and Ether (ETH).
Wealthfront, whose managed assets are valued at $25 billion, announced in a July 29 blog post that it has added two Grayscale funds to its investment options.
GBTC is on the agenda again
With the recent rise in cryptocurrency prices, some institutional products such as Grayscale’s funds have come to the fore again.
Wealthfront announced that its clients can invest in Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
“Buying cryptocurrencies can be daunting,” the company wrote in its blog post. “Exploring all the options, creating a wallet and checking an additional account can take a lot of time and effort. That’s why we’ve made it easy to have Bitcoin and Ethereum in your Wealth portfolio, no wallet required.” stated.
“Instead of buying the cryptocurrencies yourself, you can invest in GBTC and ETHE.”
Wealthfront customers will be able to dedicate up to 10 percent of their portfolio to Grayscale products. The company explained that the 10 percent limit was imposed due to the “high-risk and volatile nature of crypto products.”
On the other hand, Wealthfront also increased its access to the exchange-traded funds of Ark Invest, which is itself a GBTC shareholder, as well as Grayscale.