eToro launches Crypto-currency CopyFund as market hits $100bn

eToro, the global trading and investing social network, today announces the launch of a new cryptocurrencies investment CopyFund.

bitcoin

 

  • eToro launches Crypto-currency CopyFund
  • New fund will provide a straightforward way to invest in both Bitcoin and Ethereum online
  • Further coins to be added soon

The launch comes as the total market cap of all cryptocurrencies hits $100bn and as eToro sees the number of users trading cryptocurrencies grow four-fold in just 12 months.

eToro CopyFunds enable you to invest in predefined market strategies whilst taking advantage of the wisdom of the crowd. Top Trader CopyFunds and Market CopyFunds give investors access to the top performing strategies from eToro’s global community of investors. They are designed to help investors minimise long-term risk and to promote opportunities for growth by creating diversified investments.

In the past 12 months, the combined market cap of all cryptocurrencies went from $11bn to $100bn, and since the beginning of the year the price of Ethereum went from $8 to $257. The new CopyFund has been allocated since Mid-April and has seen returns of over 120% since inception.

The first Crypto-currency CopyFund will invest in the two largest cryptocurrencies, bitcoin and Ethereum. The weighting of different assets in the Crypto-currency CopyFund will be determined by the market cap of individual cryptocurrencies. The new fund will be regularly analysed and automatically rebalanced once a month.

Yoni Assia, Co-founder and CEO of eToro, said:

Blockchain and cryptocurrencies represent the biggest innovation in financial services since the introduction of computers into finance. Today we’re making this market more accessible to a wider pool of investors.

“More and more traders and investors are learning about the potential of this market and getting involved. Now they will be able to access a long-term investment strategy that is constantly reviewed and rebalanced.

“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 their 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.

“We’re launching this week the Crypto-currency CopyFund. We plan to add more cryptocurrencies such as Ripple and Dash, in the near future to expand our offering as well.”

eToro users can also trade individual cryptocurrencies, focusing on Bitcoin and Ethereum. Additionally eToro users can copy the trading strategies of cryptocurrency experts, such as Jay Smith who has returned 171% over the last 12 months and now copied by over $2m on the platform.

eToro now has 21 CopyFunds available, all with a minimum investment of $5,000.

Read this next

Retail FX

Investors from Cyprus and Dubai acquire ‘significant stake’ in M4Markets

Seychelles-regulated brokerage firm M4Markets firm has picked up some investment from Cyprus and Dubai based investors in a new funding round that it will be using to grow its business.

Executive Moves

UAE broker Amana elevates Amr Masry to sales director

Amr Masry has been promoted to a new senior role at Amana Capital, becoming the group’s newest Sales Director, following a successful tenure with the UAE-based FX and CFDs broker.

Executive Moves

TopFX promotes Omar Al-Janabi to head of sales and business development

Prime brokerage firm TopFX has strengthened its Middle East operations with the promotion of Omar Al-Janabi, who is taking on an expanded role as global head of sales and business development.

Retail FX

Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Digital Assets

Crypto derivatives giant BitMEX launches spot market

Crypto exchange BitMEX is looking to branch out of its singular focus on crypto derivatives with a suite of new product offerings. Although derivatives are to remain at the heart of BitMEX’s business, the popular platform will add spot crypto trading as it aims to aggressively grow their user base.

Uncategorized

PrimeXM reports mixed trading volumes for April

PrimeXM has reported weaker trading volumes for April 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Digital Assets

DLT Finance approved by BaFin to support brokerage and custody of digital assets

DLT Finance is already partnered with big names within the digital asset space, including Kraken, Bitstamp, B2C2, and Bittrex.

Institutional FX

LUKB taps vestr to launch actively managed products, AMCs

The partnership with vestr goes to show the growing importance of digitising the active investment management space.

Digital Assets

Jewel taps Tokeny to launch stablecoin-as-a-service solution on Polygon

Jewel aims to offer a stablecoin-as-a-service solution to other digital asset and financial institutions B2B, allowing those businesses to provide cheaper, easier and near real time payments with stablecoins issued and redeemable directly at the bank level at Jewel.

<