Australian approves BTC investment fund
Raiz Invest Australia, formerly known as Acorns, manages over $450 million in funds. The ASIC-approved product will operate as a microinvestment fund to be launched on its platform. Raiz has gained popularity for its application, downloaded about 1 million times, which has 300,000 active accounts and 210,000 paid clients.Raiz users will be able to benefit from the investment fund immediately after its launch. The startup confirmed that 95% of clients’ investments will be placed in Bitcoin ETFs, while the rest will be switched directly to BTC.
The Raiz platform operates by allowing its users to choose the portfolios that will receive their investment. The options can be “traditional” or “aggressive”. In addition, Raiz works by rounding up the change in cryptocurrencies of its users and putting it in the different offers provided by the platform.
Author : Reynaldo