Robo-Adviser Wealthfront Offers Grayscale Investments in Bitcoin, Ethereum

The Palo Alto, Calif.-based firm has expanded its roster of investment vehicles to include the Grayscale Bitcoin Trust and Grayscale Ethereum Trust.

AccessTimeIconJul 30, 2021 at 3:27 p.m. UTC
Updated Sep 14, 2021 at 1:33 p.m. UTC

Clients of Wealthfront, an automated investment service, can now gain exposure to crypto through the addition of two cryptocurrency trusts to the robo-adviser's investment offerings.

  • The Palo Alto, Calif.-based firm has expanded its roster of investment vehicles to include the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
  • The move marks the first by a major robo-adviser in the U.S. to offer clients crypto exposure, an announcement by Wealthfront Friday claimed.
  • Clients will be able to allocate up to 10% of their total portfolio to the two trusts, with crypto's volatility cited as the reason for the restriction.
  • Wealthfront is among the largest robo-advisory platforms in the world with $25 billion in assets under management.
  • Grayscale Investments is a subsidiary of CoinDesk's parent company Digital Currency Group.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.