Trading and investing platform, eToro, announced the addition of spot bitcoin ETFs to the platform, following the Security and Exchange Commission’s (SEC) approval of the products.
US users can buy iShares Bitcoin Trust (IBIT) and ARK 21Shares Bitcoin ETF (ARKB) on eToro for whole share and fractional trading via the partnered custodian Apex Financial Solutions.
This announcement follows the platform’s addition of over 650 U.S. stocks in the past month.
Lule Demmissie, eToro US CEO, said:
“We are excited that traditional finance has now embraced crypto in the form of a bitcoin ETF. We have been advocates of the crypto space for sometime and our customers are already able to purchase bitcoin and other crypto assets on our platform with ease. The addition of bitcoin ETFs marks the marriage of two transformational financial instruments. This union of trad-fi and defi is a cause for celebration and is a movement in the direction that will bring the greatest benefits to more people.”
The arrival of bitcoin ETFs comes “as data from eToro shows a knowledge gap between ETFs and crypto.”
In a recent survey, eToro found “that 60% of American retail investors could define ‘crypto’ without looking it up compared to only 28% for ETFs.”
The new bitcoin ETFs offer investors new ways “to approach investing in bitcoin. As a young and still developing asset class, crypto is mostly dominated by retail investors.”
These new ETFs are a potential solution for this institutional demand for bitcoin.
Demmissie added:
“Like any good partnership, each side brings something to the table. ETFs as an investment vehicle provide low-cost, easy access to a multitude of investment opportunities. They will now provide a ‘regulated’ way for people to access crypto, opening the doors to millions more investors. We look forward to adding more of the bitcoin ETFs to our platform soon.”
eToro continues to expand “the number of assets “available to US users, including the recent addition of over 650 more stocks. US customers have access to investing in a variety of stocks, ETFs, options, and crypto assets.”
For those newer to investing or curious about a new asset class, investors can practice and hone their skills “using eToro’s Virtual Portfolio. eToro is dedicated to empowering investors through access to financial resources and educational content available on the eToro Academy.”
eToro is the trading and investing platform that empowers you “to invest, share and learn.”
Today they claim to have “over 35 million registered users from more than 100 countries.”
They believe there is power in shared knowledge and that we can “become more successful by investing together. So they’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth.”
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