Investing in Wealthfront to provide ethereum products in bitcoin grayscale

As more investors turn to cryptocurrencies, Palo Alto-based Wealthfront offers its clients Grayscale bitcoin trust (GBTC) and grayscale ethereum trust (ETHE) services with $ 25 billion in asset management (AUM).

Wealthfront’s new offerings will also include automation features such as “smart dividend reinvestment” and collection of tax losses, a feature aimed at reducing customers ‘ tax bills.

When using GBTC and ETE, investors do not need to build external portfolios and pay attention to technical aspects such as storing private keys. All grayscale crypto products are for tracking price movement of underlying assets only.

GBTC is the oldest and largest cryptocurrency fund operated by New York firm Grayscale Investment. With $ 25.9 billion in AUM, it offers access to SEC-regulated bitcoin, tracking the price of the reference cryptocurrency.

Launched in 2017, ETHE is the first publicly traded ethereum investment vehicle in the United States, and Grayscale is the second largest crypto fund at AUM with $ 7.3 billion. The company operates a number of other cryptocurrencies that track coin prices, such as Litecoin, Bitcoin Cash, Basic Attention Token and Zcash, among others.

Update from 29.07.2011: net assets under management, market price per share for our stock and investment products per share.

Total AUM: $ 34.7 billion, $ BTC, $ BAT, $ BCH $ link, $ Mana $ ETH $ ETC $ elephant, $ZEN $ L $ LPT $ XLM $ZEC $ UNI $ AAVE $ COMP, $ CRV $ MKR $ sushi – $ SNX $ YFI $ uma $ bnt $ ada pic.twitter.com/5R63gk6ABj

– Shades of grey (@shades of Grey) July 29, 2021

However, Wealthfront warns that crypto investments can be riskier and more volatile than most Exchange Traded Funds (ETFs), so the company has restricted the allocation of gbtc and ETH customers to 10% of its entire portfolio.

The company’s other affordable investment options include a range of ETFs managed by Cathie Wood’S ARK Invest and ETFs “industry-specific, such as marijuana or self-driving decks.”

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