LONDON, June 7, 2017 /PRNewswire/ --
- eToro launches Crypto-currency CopyFund
- New fund will provide a straightforward way to invest in both Bitcoin and Ethereum online
- Further coins to be added soon
eToro, the global trading and investing social network, today announces the launch of a new cryptocurrencies investment CopyFund.
The launch comes as the total market cap of all cryptocurrencies hits $100bn and as eToro sees the number of users trading cryptocurrencies grow four-fold in just 12 months.
eToro CopyFunds enable you to invest in predefined market strategies whilst taking advantage of the wisdom of the crowd. Top Trader CopyFunds and Market CopyFunds give investors access to the top performing strategies from eToro's global community of investors. They are designed to help investors minimise long-term risk and to promote opportunities for growth by creating diversified investments.
In the past 12 months, the combined market cap of all cryptocurrencies went from $11bn to $100bn, and since the beginning of the year the price of Ethereum went from $8 to $257. The new CopyFund has been allocated since Mid-April and has seen returns of over 120% since inception.
The first Crypto-currency CopyFund will invest in the two largest cryptocurrencies, bitcoin and Ethereum. The weighting of different assets in the Crypto-currency CopyFund will be determined by the market cap of individual cryptocurrencies. The new fund will be regularly analysed and automatically rebalanced once a month.
Yoni Assia, Co-founder and CEO of eToro, said:
"Blockchain and cryptocurrencies represent the biggest innovation in financial services since the introduction of computers into finance. Today we're making this market more accessible to a wider pool of investors.
"More and more traders and investors are learning about the potential of this market and getting involved. Now they will be able to access a long-term investment strategy that is constantly reviewed and rebalanced.
"We have been seeing an increasing number of our clients looking for a simpler way to access investments in cryptocurrencies - with a view to building a portfolio in the future. They were asking how to allocate their investments between the two largest cryptocurrencies that are traded on eToro, so we have launched an automatically rebalanced investment strategy to simplify their investments into this new exciting asset class.
"We're launching this week the Crypto-currency CopyFund. We plan to add more cryptocurrencies such as Ripple and Dash, in the near future to expand our offering as well."
eToro users can also trade individual cryptocurrencies, focusing on Bitcoin and Ethereum. Additionally eToro users can copy the trading strategies of cryptocurrency experts, such as Jay Smith who has returned 171% over the last 12 months and now copied by over $2m on the platform.
eToro now has 21 CopyFunds available, all with a minimum investment of $5,000.
eToro is a leading online trading and investing community. The award-winning platform connects you with a global, growing network of 6 million users, with expertise in everything from short-term trading in Bitcoin to long-term investing in bank stocks. Learn from and copy the best investment strategies and become a leading trader yourself. eToro is the next-generation hub for traders and investors of all shapes and sizes.
Investment products offered by eToro are contracts for differences (CFDs) in currencies, stocks, commodities, indices and exchange traded funds (ETFs). These products carry a high degree of risk and are not suitable for many investors.
If the market moves against you, you may sustain a total loss greater than the funds invested in a specific position. You are responsible for all losses on your account up to the equity in your account.
*All trading involves risk. Only risk capital you're prepared to lose. Past performance is not an indication of future results. Trading history presented is less than 5 years and may not suffice as basis for investment decision. This is not investment advice.