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.