eToro Launches Portfolio Of Bitcoin Proxy Stocks.
2021-04-26 | Robin Williams
![eToro Launches Portfolio Of Bitcoin Proxy Stocks.]()
Trading platform eToro has launched a
portfolio of Bitcoin [
BTC, +5.76%] proxy stocks.
Besides carrying exposure to bitcoin itself, the portfolio embodies firms “in
the value chain behind bitcoin” along with PayPal, Nvidia, Canaan, and Coinbase,
consistent with an announcement earlier today on Monday.
Notably, it
doesn't carry stocks whose only link to cryptocurrency
is a treasury allocation, like MicroStrategy or Tesla. [Square, which has both a bitcoin treasury allocation and allows BTC trading through its Cash App, is included
within the portfolio.]
About a quarter of the “BitcoinWorldWide” portfolio is Bitcoin itself.
Each of
the opposite stocks represents no
over 3.33% of
the entire portfolio.
The aim of eToro’s portfolio is
to offer access to companies “that deliver a service or product essential to the further adoption of bitcoin,”
consistent with Dani Brinker, eToro’s head of portfolio investments.
eToro could
even be included in such a portfolio by virtue of its
planned public listing via a merger with a SPAC [Special-Purpose Acquisition Company].
Leave a comment
Your email address will not be published. Required fields are marked *
