eToro, the global trading and investing social network, is today announcing the launch of its Crypto CopyFund, which offers investors exposure to six of the most popular cryptocurrencies currently available.
This comes as eToro sees demand for cryptocurrency trading grow four-fold in just 12 months, as the global market cap of cryptocurrencies reaches over $100bn.
As well as popular assets Bitcoin and Ethereum - both available individually on the platform - investors will now be able to gain exposure to DASH, LiteCoin, Ripple and Ethereum Classic via the CopyFund.
The portfolio, which is regularly analysed and automatically rebalanced once a month by eToro’s investment committee, will offer investors a diversified portfolio weighted according to market cap size.
Yoni Assia, Co-founder and CEO of eToro, said:
“2017 has been a defining year for cryptocurrencies. The global market has now topped $100 billion and the last few months alone have seen an influx of new cryptos entering the space.
“We believe that $100B is a milestone on the way to a Trillion USD market cap, and that a good strategy to capture this growth is by simply investing in the top billion dollar cryptocurrencies on a market cap weighted average.
“As the popularity of the market grows, and more investors are learning about its potential, we want to ensure that our clients have as much access to it as possible. Investing in the top cryptocurrencies is an extremely complex process today, it requires technical, security and risk management knowledge to buy and hold these new digital assets, at eToro we are simplifying this process to a click of a button.
“This CopyFund is the first of its kind globally providing investors access to the world’s biggest digital currencies in one innovative portfolio. For those who believe in the technology’s potential, this is an opportunity to invest in a straightforward and simple way.”
eToro CopyFunds enable you to invest in predefined market strategies whilst taking advantage of the wisdom of the crowd. Top Trader CopyFunds and Market CopyFunds give investors access to the top performing strategies from eToro’s global community of investors. They are designed to help investors minimise long-term risk and to promote opportunities for growth by creating diversified investments.
On eToro, users can also trade individual cryptocurrencies, focusing on Bitcoin and Ethereum. Additionally eToro users can copy the trading strategies of cryptocurrency experts, such as Liam Davies, Alex Plesk and Jay Smith who has returned 171% over the last 12 months and is now copied by over $2m on the platform.
eToro now has dozens of CopyFunds available, all with a minimum investment of $5,000.BLOG COMMENTS POWERED BY DISQUS