WEALTHFRONT GIVES GREEN LIGHT FOR CRYPTO INVESTMENT
It will start allowing clients to invest in cryptocurrencies later this year, the U.S. digital wealth manager said todayy, in the latest sign of growing acceptance of digital assets by mainstream finance.
Starting this week, users will also be able to build their own portfolio from a range of ETFs vetted by the Wealthfront team, the company said.
The moves mark a notable shift for the Palo Alto, California-based startup, whose investment strategy has traditionally been more conservative and long term, automatically allocating client assets into a set of ETF-based portfolios.
Wealthfront, one of the largest digital wealth management firms known as “robo-advisers,” will also allow clients to choose from a range of socially responsible investing options, it said.
It did not specify which cryptocurrencies would be available.
