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CEO of Investment App Betterment says that they are looking at long-term crypto offerings

Sarah Levy said that the company views the asset as a long-term purchase and hold, rather than a short-term trading opportunity.

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CEO of Investment App Betterment says that they are looking at long-term crypto offerings

Betterment, an American financial advisory firm with approximately $30 billion under management, is exploring offering crypto investment opportunities to its customers.

Today's interview with Yahoo Finance was conducted by Sarah Levy , CEO of Betterment. She stated that she had been looking for ways to provide Betterment customers the opportunity to add crypto to their portfolios due to the increasing interest in digital assets. She said that even though the market is volatile, there may still be long-term investment opportunities for those who are well informed.

The CEO stated that he personally loves crypto and believes it is a great asset class to include in the mix. "What we are trying to do is figure out: Can we offer crypto with a guide wrapper so we can educate along the journey?"

Levy was added:

"I believe that how that will manifest will be more through the lens of a long term buy and hold of the asset as part of a smaller portfolio than as some sort of trading opportunity short-term."

Levy's comments came one-month after she stated that Betterment was still in a "watch and learn mode" regarding offering crypto to customers. The price of Bitcoin ( BTC ) and other major cryptocurrencies was much higher at the time -- it is 38% lower than the price it was in May, when it was within reach for $60,000

The CEO stated that he wanted to see a way for the company to responsibly offer crypto.

Betterment was founded in 2008 and allows users to make investments in stocks or bonds via its app. Betterment, which was founded in 2008, allows users to invest in stocks and bonds through its app. However, the company reported that the number of clients increased by 116% in the first quarter 2021. Trading apps that allow users access crypto assets have also experienced significant growth. Robinhood reported that there was a 500% increase of users in March compared to the fourth quarter 2020.

Betterment is looking to expand its crypto-space exposure. Wall Street investment bank Morgan Stanley has access through the Grayscale Bitcoin Trust. The firm held 28,298 shares in GBTC as of April 30 at a price of $29.28. In a report issued this month , Goldman Sachs seemed to have reversed its position regarding digital asse . It claimed that cryptocurrencies were not a viable investment.

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TzwSVsOw 1 hafta ago

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