Social Investment Network, eToro, Adds ‘Bitcoin Value Chain’ Stock Portfolio Tracking
Renowned brokerage and trading firm eToro, is introducing a fresh portfolio that provides its customers access to firms that are “building the value chain” behind Bitcoin.
In a press statement, the new offering is known as the Bitcoin WorldWide portfolio and lists various firms that are linked to Bitcoin as well as the larger crypto market. Some of the listed firms include Coinbase, PayPal, Nvidia, and Canaan. However, it is important to note that the new product does not support stocks with treasury allocation like Tesla or MicroStrategy.
eToro clients are now free to invest in Bitcoin WorldWide from as low as $1,000 free from any management fees.
eToro’s portfolio investments chief, Dani Brinker, explained that tracking Bitcoin’s price is not the important part but firms creating value chains behind the king coin. Brinker said,
“The most significant change surrounding the world’s largest crypto is not its price, but the companies building the value chain around it. There’s more to Bitcoin than you might think.”
The firm stated that the new offering aims to provide retail clients a simple way to know the firms that offer their products and services, furthering the mass adoption of Bitcoin.
In November last year, payments giant PayPal announced that US-based clients were free to trade crypto. At the start of this year, the firm revealed that it was planning to introduce crypto payments in the UK and the European market. Meanwhile, Dan Schulman, the firm’s CEO, announced that he was working on introducing a new team that will only focus on cryptos.
Recently, Nvidia, the chip manufacturer, won a two-year-old lawsuit that investors filed. The firm was successful in dismissing claims that the investors were unaware of its dependence on crypto mining. The firm now aims to get about $150 million in revenue from its newly launched Ethereum mining chip.
Meanwhile, the public listed crypto mining hardware manufacturer, Canaan, has witnessed its shares price surge by approximately 1000% in half a year.