Robo advisor Wealthfront adds support for Grayscale's bitcoin and ether funds
July 30, 2021, 12:33PM EDT
1 min read
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."
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