Robo-Adviser Wealthfront Offers Grayscale Investments in Bitcoin, Ethereum
Clients of Wealthfront, an automated investment service, can now gain exposure to crypto through the addition of two cryptocurrency trusts to the robo-adviser’s investment offerings.
- The Palo Alto, Calif.-based firm has expanded its roster of investment vehicles to include the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
- The move marks the first by a major robo-adviser in the U.S. to offer clients crypto exposure, an announcement by Wealthfront Friday claimed.
- Clients will be able to allocate up to 10% of their total portfolio to the two trusts, with crypto’s volatility cited as the reason for the restriction.
- Wealthfront is among the largest robo-advisory platforms in the world with $25 billion in assets under management.
- Grayscale Investments is a subsidiary of CoinDesk’s parent company Digital Currency Group.
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