Wealthfront Adds in BTC and ETH Upon Its $25B Assets

Wealthfront Adds in BTC and ETH Upon Its $25B Assets

Bitcoin(BTC) and Ethereum(ETH) are still playing as the best investment options for anyone when it comes to cryptocurrencies. Yet, not only for individuals but also for firms and individuals too. Upon this, many firms and establishments are either directly or indirectly investing in BTC and ETH. Amidst this, the $25 billion valued investment firm, Wealthfront join this league by investing and incorporating itself on Bitcoin (BTC) and Ethereum (ETH). 

Wealthfront’s Investments

The California-based investment firm, Wealthfront revealed on July 29 that it has incorporated two Grayscale attributes into its investment options.

Moreover, this depicts that Grayscale has invested itself upon the Grayscale attributes in order to incorporate them as their investment options to their clients. 

On the other hand, in recent times with the fall of the crypto market and now it is rising again, the prices have soared up. Also, prominent cryptos like BTC and ETH are rather quite expensive to invest in. In spite of this, now institutional investments like the Grayscale are getting more popular and are considered much safer. 

Furthermore, Wealthfront has incorporated the two big attributes of Grayscale, the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE) as its investment options for its clients and through itself on investing upon them.

In addition, Wealthfront states that its clients could hold up to a maximum of 10% of their total investments as Grayscale products. 

 The GBTC Stakings

As of recent trends, many are now keen on investing in BTC. Numerous financial investment firms have themselves invested in GBTC including ARK Investments too. Also, the ARK Investment proves to be a major holder of GBTC for Grayscale.

However, many argue that GBTC opening by Grayscale would have impacted significantly on the price of BTC. Furthermore, institutional investments like Grayscale’s GBTC have so far not let its price of BTC fall much below $40,000

In spite of this, GBTC has to somehow bring positive signs rather than the negative aura that surrounds it, which may also affect its stakeholders.

Moreover, the CEO of Grayscale, Michael Sonnenshein states that they will soon turn over all the GBTCs into ETHE owing to the more strict crypto regulations for BTC in the United States.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.