Investment Application Acorns Adds Support for BTC

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US-based investment app Acorns has recently added to its fintech app the ability to invest in Bitcoin with a return of up to 5% per annum.

Acorns allows users to invest the change from purchases into ready-made investment portfolios. Some banking services are also available in the program.

As reported by the company, the application currently has 4.6 million users, and many of them have shown interest in cryptos. The head of Acorns, Noah Kerner, has stressed that the new feature is “not trading,” but a way to diversify a portfolio long-term through investment in a volatile asset.

It will not be possible to purchase Bitcoin directly in the app. Instead, investors will open a position with a ProShares ETF based on Bitcoin futures.

The company’s head of investment Seth Wunder has added this is “a great way to introduce Americans to this asset class.” He has also noted the attention to cryptocurrencies reflects the changes in investor behavior that have occurred since the start of the covid-19 pandemic.