As the total market cap of all cyrptocurrencies hits $100bn, more and more people are looking to invest in the sector.
Investing is a complex and opaque activity at the best of times, let alone in a space as new and jargon-filled as the cryptocurrency market.
eToro, the global trading and investment social network, has announced a cryptocurrencies investment CopyFund.
The company has seen the number of users trading in cryptocurrencies grow four times in the last 12 months.
CopyFund allows users to invest in ‘preefined market strategies’ while also allowing them to access the top performing strategies from eToro’s global community of investors.
The product is designed to help investors minimise their own risk while also promoting the various opportunities for growth through diversified investments.
Further details:
- the CopyFund will invest in Bitcoin and Ethereum
- different assets will be weighted will be determined by the market cap of inddiviudal cryptocurrencies
- the fund will be regularly analysed and automatically rebalanced once a month
“Automatically rebalanced investment strategy”
Yoni Assia, Co-founder and CEO of eToro, said:
“We have been seeing an increasing number of our clients looking for a simpler way to access investments in cryptocurrencies – with a view to building a portfolio in the future.
“They were asking how to allocate tier investments between the two largest cryptocurrencies that are traded on eToro, so we have launched an automatically rebalanced investment strategy to simplify their investments into this new exciting asset class.”
There are plans to add further cryptocurrencies, such as Ripple and Dash, to the platform.
Users are also able to trade in individual cryptocurrencies, and can use the platform to emulate the trading strategies of successful cryptocurrency experts such as Jay Smith (who has achieved a mighty 171% return over the last 12 months).
The minimum investment is $5000.
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