eToro Collaborates with 21Shares for Data-Backed Crypto Investment
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The trading and investment company eToro has teamed up with 21Shares, the creator of crypto exchange-traded products (ETPs). The partnership aims to bring out a fresh investment portfolio that pledges a data-focused method to crypto investing. eToro is a multi-asset investment and social trading firm that focuses on giving financial services, with its office situated in Central Israel.
Partnership Aims To Maximize Cryptocurrency Investment Opportunities
Dubbed the 21Shares-Flows, the fresh investment portfolio consists of real cryptocurrency and utilizes insights from monthly inflows for European cryptocurrency ETPs.
It is divided by tangible assets, like Ethereum, Bitcoin, and different altcoins. As per the press release, the portfolio aims to match emerging trends by following market sentiment and investor preferences.
The Head of Investment Portfolios at eToro, Dani Brinker, emphasized the firm latest research. The research indicates that individual investors worldwide are more inclined to increase their investment in crypto than in any other type of asset.
This portfolio offers investors a unique chance to benefit from the potential growth of crypto assets in a structured and data-focused way. Moreover, the team is excited to introduce 21Shares’ top-notch insights to their users, he added.
The new investment portfolio adjusts its distribution among different cryptocurrencies based on market sentiment, analyzing the monthly inflows into European cryptocurrency ETPs. For example, if there are substantial inflows into Bitcoin ETPs, the allocation to Bitcoin within the portfolio increases accordingly.
eToro Aims To Provide Innovative Financial Services Globally
eToro’s Smart Portfolios, comprising the 21Shares-Flows portfolio, provide exposure to different financial tools. Investors can access charts and tools to track the portfolios with a minimum initial investment of USD$500, the company noted. However, traders from the US cannot access these services.
eToro is currently seeking permission to work in Singapore as part of its efforts to expand its presence in Southeast Asia. The broker has recently applied for a license from the Monetary Authority of Singapore.
Even though eToro’s headquarters is in Israel, it has a global presence with regulatory approvals in different regions, like the United Arab Emirates and the United Kingdom. While eToro’s efforts to expand are met with excitement, there are still challenges with regulators. For example, regulators like the Securities and Exchange Commission in the Philippines have issued recent warnings.
eToro was established as RetailFX in 2007 in Tel Aviv by brothers Ronen Assia and Yoni Assia along with David Ring. In 2010, the company introduced the eToro OpenBook social investment platform, together with its CopyTrader feature, which lets investors copy the top traders in the network automatically. Later that year, the company also launched an Android app.
