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Betterment Launches Innovative Cryptocurrency Offering For Customers With Custody By Gemini

Robo-advisor Betterment has begun offering cryptocurrency investment services to its 730,000 adviser and investor clients.

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Customers may now invest in four unique cryptocurrency portfolios thanks to a deal with Gemini, which will operate as Betterment’s crypto custodian.

Betterment made its first foray into the cryptocurrency industry in February when it acquired Makara. Makara co-founder and then-CEO Jesse Proudman stated at the time that the firm was created to introduce a straightforward and accessible long-term investing method to cryptocurrencies.

Proudman spoke this time in his new capacity as Betterment’s VP of cryptocurrencies. He emphasized the firm’s intention to make access to the area easier, which he described as complicated and unapproachable at times.

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Betterment’s Crypto will allow customers to create separate accounts to invest in cryptocurrency. According to Proudman, the investing options include four portfolios fashioned after exchange-traded funds.

The portfolios include the Universe portfolio, which includes BTC, ETH, and LINK; the Sustainable portfolio, which includes ETH, MATIC, XTZ, and SOL; the DeFi portfolio, which includes AAVE, UNI, and COMP; and the Metaverse portfolio, which includes SAND and MANA.

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According to the firm, these are samples of cryptocurrencies in the portfolios and are not a full list of the tokens accessible in each portfolio. Users may also personalize their portfolios by removing certain tokens before investing, according to Proudman.

Betterment teamed with cryptocurrency exchange Gemini last month to provide a crypto investing portfolio solution for its consumers. The most recent Betterment crypto product is built from digital assets listed on Gemini, with Gemini serving as the custodian.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.