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eToro Offering New Stock Portfolio for Bitcoin-Friendly Companies


cryptoknowmics.com 27 April 2021 08:20, UTC
Reading time: ~2 m

eToro has announced that the company is launching BitcoinWorldWide, a new stock portfolio of companies creating value in the Bitcoin ecosystem. The core focus of the stock portfolio includes adding companies that encourage cryptocurrency adoption.

eToro Announces the Launch of BitcoinWorldWide

On April 26th, eToro announced on launching BitcoinWorldWide, a thematic portfolio of companies operating to support the adoption of the world’s largest cryptocurrency. The investment platform further added that it will have some exposure to the leading cryptocurrency as well.

Clients of eToro will now be able to invest in BitcoinWorldWide with a minimum amount of $1,000 without any management fees. However, other costs, including spread and conversion fees do still apply.

Commenting on the newly launched addition, Dani Brinker, eToro’s Head of Portfolio Investments, said:

“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. “It is a broader approach to bitcoin investing that offers a diversified investment, uncorrelated with the bitcoin itself, but maintains exposure to the growth potential of the crypto sector.”

BitcoinWorldwide is part of leveraging on BTC’s rising popularity among institutions and is one of over forty thematic CopyPortfolios available on the social investment platform.

Creating Stock Portfolio for Companies Creating Bitcoin Value Addition

eToro emphasized that the company adding BTC’s value chain includes firms operating in firms such as mining, semiconductor, payments, exchange, custodianship, and insurance sector.

The investment platform has intentionally excluded companies that are bullish on Bitcoin but lack the core business units related to the value creation of the flagship cryptocurrency.

For instance, it will not include companies whose only link to BTC is in its treasury allocation, such as MicroStrategy or Tesla. Meanwhile, Jack Dorsey’s Square which has both a Bitcoin treasury allocation and enables Bitcoin trading through its Cash App is included in eToro’s stock portfolio.

The newly launched stocks portfolio includes companies such as cryptocurrency mining hardware manufacturer, Canaan, chip manufacturer, Nvidia, online payments company, PayPal, and the public listed cryptocurrency exchange, Coinbase.

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