Invest in Bitcoin Ecosystem Companies with the New eToro Wallet
eToro, a platform for investing in cryptocurrencies, corporate stocks and derivatives, integrates its new product BitcoinWorldWide. It is a “ smart thematic wallet ” based on companies in the Bitcoin ecosystem (BTC).
“While it does include some exposure to bitcoin itself, the core focus of the portfolio is the companies operating to enable its greatest adoption,” explains eToro in a press release viewed by CriptoNoticias.
Some of the stocks of the companies in this portfolio (27 in total) include Paypal, Nvidia, Canaan, Mastercard, Visa and Coinbase. As reported by eToro, companies with an upbeat view of BTC, but without related departments, have been intentionally left out, such as MicroStrategy, the company headed by Michael Saylor.
“Our goal is to provide retail investors with an easy way to gain exposure to companies that offer a service or product essential to the subsequent adoption of bitcoin,” explained Dani Brinket, head of investment portfolios at eToro. According to this individual, the most important change around BTC is not its price but “the companies that are building the value chain around it”.
In addition to BitcoinWorldWide, eToro offers its users over 40 smart wallets (also known as CopyPortfolios). In the latter, investments can be made from 1000 USD and no management fees are charged, although other costs such as spreads and exchange fees are charged (in case the deposit is not in dollars).
This is a broader approach to investing in BTC that offers a diversified investment, uncorrelated to bitcoin itself, but maintains exposure to the growth potential of the crypto industry.
Dani Brinker, Head of Investment Portfolios at eToro.
Another of its CopyPortfolios, called “CryptoEqual”, allows you to invest in a basket of crypto-currencies. They are distinguished by their percentage of participation, IOTA (MIOTA), ethereum classic (ETC), cardano (ADA), tron (TRX) and Zcash (ZEC).
Only 26% of the smart thematic wallet is backed by BTC; the rest is made up of shares of companies in the ecosystem. Source: eToro.
Outside of the crypto-asset arena, eToro’s thematic portfolios include some specializing in tech companies, food companies, and Chinese companies, among others.
For those who wish to acquire Bitcoin directly, eToro also offers this possibility. After purchase, BTC can be held on the platform for trading or withdrawn into a self-depository wallet. This media has developed a tutorial which indicates the steps to follow to open an account on this platform.
EToro Analysis: Bitcoin Price In The Support Zone
EToro analysts, in their latest weekly market commentary, released today April 26, made reference to BTC’s recent performance in the markets.
“The pressure to sell, with strong initial volumes expected to ease around the weekend, now appears to be biding and seeing in key areas of support,” notes eToro. He adds that BTC is in that support zone, “in danger of fetching $ 44,000”, and with no ability to rethink to higher levels, unless the price goes over $ 55,000.