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Wealthfront adds crypto exposure

Source: Wealthfront

At Wealthfront, we want to support you in building the portfolio that’s right for you. That’s why earlier this year, we made it possible to customize your Wealthfront portfolio. And it’s why today, we’re expanding our menu of investments even more to include hundreds of options, including two cryptocurrency trusts: Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).

Wealthfront is the first service that makes it possible to gain exposure to cryptocurrency as part of a diversified portfolio with automation features like tax-sensitive rebalancing, intelligent dividend reinvestment, and our Tax-Loss Harvesting.

Get cryptocurrency exposure without the hassle
Buying cryptocurrency can feel intimidating — it takes time and effort to research all of the options, set up a wallet, and monitor an additional account. That’s why we’ve made it easy to get exposure to Bitcoin and Ethereum right in your Wealthfront portfolio, no wallets required. Instead of buying coins yourself, you can invest in GBTC and ETHE.

You can add GBTC and/or ETHE to your portfolio by following the instructions here and selecting a combined allocation of up to 10% of your total portfolio. We limit your allocation to GBTC and ETHE because, as a fiduciary, we act in your best interests at all times, and these investments can be riskier and more volatile than most ETFs.

GBTC and ETHE round out our significantly expanded menu of investment options. For example, you can now choose from a bigger selection of ARK ETFs, pick ETFs that are specific to industries like cannabis or self-driving cars, or choose from a larger pool of socially responsible investments. The choice is yours.

Your ideal portfolio, automated
Wealthfront’s automation takes the chore out of managing your portfolio and works to maximize your after-tax returns at no extra cost. Whether you build a highly personalized portfolio, stick with our expert-built recommended portfolios, or bring over investments from another firm, we’ll handle the details. That means we’ll make the trades and rebalance your investments so your allocation doesn’t drift too far over time. We’ll also help you keep more of what you earn with our industry-leading Tax-Loss Harvesting service, which takes advantage of market volatility to lower your taxes whenever there’s a suitable alternative available. Tax-Loss Harvesting alone typically generates enough tax savings to more than cover our advisory fee.

With these new cryptocurrency investment options and our dramatically expanded menu of ETFs (most of which are eligible for Tax-Loss Harvesting), it’s now easier than ever to make Wealthfront the home base for all of your investments. And soon, you’ll have even more choices when you invest at Wealthfront. In the near future, we’ll offer specially curated portfolios for clients interested in socially responsible investing. Wealthfront is the one platform you need to build a secure and rewarding financial future, and it will just keep getting better. 

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