Betterment adds crypto portfolios to investment options
Betterment is integrating technology it acquired through the purchase of crypto-adviser Makara to add digital assets to its portfolio of investment offerings for consumers and financial advisers.
What’s happening: Betterment is launching four thematic crypto offerings that users can add to their investment portfolios, each of which has a different mix of assets depending on their interests and risk tolerance. When the company acquired Makara in February, Betterment president Mike Reust said it was adding digital assets in response to customer demand.
Betterment is integrating technology it acquired through the purchase of crypto-adviser Makara to add digital assets to its portfolio of investment offerings for consumers and financial advisers .Why it matters: Despite a downturn in the crypto market, many investors still view digital assets as an important part of their portfolios, and this move responds to that demand.What’s happening: Betterment is launching four thematic crypto offerings that users can add to their investment portfolios, each of which has a different mix of assets depending on their interests and risk tolerance .
• The curated offerings are made up of 25 different digital assets , including bitcoin, ethereum, solana, and other tokens, as well as DeFi protocols like aave, uniswap and compound .
• Betterment is partnering with crypto exchange Gemini to offer the new managed investment portfolios.Of note: Betterment will charge a 1% annual fee for the crypto offering, compared to 0.25% for its traditional investing plan and 0.4% for customers who have access to human financial advisers .Flashback: When the company acquired Makara in February, Betterment president Mike Reust said it was adding digital assets in response to customer demand .
• “It’s become clear that crypto is interesting to customers, and it’s not going away,” Reust said at the time.
