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$26 Billion Wealthfront Investment Service Provider to Implement Cryptocurrencies

Fri, 07/30/2021 - 08:46
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Arman Shirinyan
Another financial institution is looking to implement cryptocurrency investment solutions for their clients
$26 Billion Wealthfront Investment Service Provider to Implement Cryptocurrencies
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Wealthfront investment company has added support for Bitcoin and Ethereum funds from their clients, according to a recent report.

In addition to Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE), Wealthfront will add support for numerous crypto investment solutions for their clients.

Wealthfront allows its users to use tax-sensitive rebalancing, dividend reinvestment and other automated solutions to improve user experience.

More than 450,000 accounts will be able to add cryptocurrency investment solutions to their portfolios without opening a cryptocurrency exchange account and setting up crypto wallets.

Wealthfront is an investment service that mostly uses automated solutions for its clients and has more than $26 billion in funds in management. The company has received funding from companies like Benchmark Capital and DAG Ventures.

Bitcoin and the cryptocurrency industry, in general, are being actively adopted by institutions that have led to sentiment change on the market. Numerous experts have expressed their feelings about upcoming regulations that may have a positive effect on the market and industry as a whole.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.