EToro launches new bitcoin portfolio
Multi-asset investment platform eToro has today announced the launch of a new thematic portfolio – BitcoinWorldWide. Based on the companies in the value chain behind bitcoin, the portfolio is intended to further catalyse adoption of the booming cryptocurrency.
“Our aim is to provide retail investors with an easy way to get exposure to companies that deliver a service or product essential to the further adoption of bitcoin,” explains Dani Brinker, eToro’s head of portfolio investments.
eToro considers bitcoin’s value chain to include companies operating in the mining, semiconductor, payments, exchange, custodianship and insurance spaces, as well as the asset itself. As such, BitcoinWorldWide involves companies such as PayPal, chip manufacturer Nvidia, mining hardware producer Canaan, and recently public crypto-exchange, Coinbase.
Since its entrance into the market in 2009, bitcoin has grown exponentially – and currently boasts a market capitalisation of over $1 trillion. The year 2020, however, was a significant milestone in the development of the popular cryptocurrency, with payments companies such as Square and PayPal unveiling plans to support bitcoin payments.
The launch of eToro’s portfolio, BitcoinWorldWide, is set to further drive the ubiquity of this burgeoning cryptocurrency.
“As it crosses into mainstream awareness, bitcoin is increasingly in the spotlight” says Dani Brinker. “The most significant change surrounding the world’s largest crypto is not its price, but the companies building the value chain around it. From mining operations to chip manufacturers and those delivering services to support usage, payments, exchanges and custody, there’s more to bitcoin than you might think.”
BitcoinWorldWide is one of over forty thematic CopyPortfolios available on eToro, and users can invest as little as $1,000.