eToro, a platform that makes it possible to invest in cryptocurrencies, company shares and derivatives, incorporates its new product BitcoinWorldWide. It is a ‘smart thematic wallet’ based on companies in the bitcoin (BTC) ecosystem.
“Although it includes some exposure to bitcoin itself, the central focus of the portfolio is the companies that operate to allow its greater adoption,” explains eToro in a press release accessed by CriptoNoticias.
Among the shares of companies present in this portfolio (27 in total) are Paypal, Nvidia, Canaan, Mastercard, Visa and Coinbase . As reported by eToro , companies with a bullish view on BTC, but without related departments, were intentionally excluded, such as MicroStrategy, the company led 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 further bitcoin adoption,” explained Dani Brinket, Head of Investment Portfolios at eToro . According to this individual, the most significant change around BTC is not its price but “the companies that build the value chain around it.”
In addition to BitcoinWorldWide, eToro offers its users more than 40 smart wallets (also called CopyPortfolios). In them, investments can be made from USD 1,000 and no management fees are charged , although other costs such as spread and foreign exchange commissions are charged (in case the deposit is not in dollars).
It is a broader approach to investing in BTC that offers a diversified investment, without correlation to bitcoin itself, but maintains exposure to the growth potential of the crypto sector.
Dani Brinker, Head of Investment Portfolios at eToro.
Another of its CopyPortfolios, called “CryptoEqual”, allows investment in a basket of cryptocurrencies . They stand out for their percentage of participation, IOTA (MIOTA), ethereum classic (ETC), cardano (ADA), tron (TRX) and Zcash (ZEC).
Only 26% of the smart thematic portfolio 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 wallets include some specialized in tech companies, food companies, and Chinese corporations, among others.
For those interested in acquiring bitcoin directly , eToro also offers that possibility. After purchase, the BTC can be kept on the platform for trading, or withdrawn to a self-custodial wallet. This medium has developed a tutorial that indicates the steps to follow to open an account on this platform.
EToro analysis: bitcoin price in support zone
Analysts at eToro, in their most recent Weekly Market Commentary , released today, April 26, referred to BTC’s recent performance in the markets .
“Selling pressure, with strong initial volumes set to decline towards the weekend, now appears to be in the process of ‘wait and see’ in key support areas,” notes eToro . He adds that BTC is in this support zone , “in danger of going to look for $ 44,000”, and without the possibility of thinking about higher levels again, unless the price exceeds $ 55,000.