eToro rolls out new DeFi portfolio
Initial investment in the new portfolio starts at $1,000, with eToro’s new portfolio consisting of 11 cryptoassets.
With the trading boom still rumbling on, eToro has launched a new product to entice customers to invest even more through its platform.
eToro is rolling out a new DeFi portfolio, offering customers the chance to invest in the world of decentralised finance.
DeFi is a blockchain-based form of finance that doesn’t rely on the regular financial infrastructure, like banks or exchanges, to operate and aims to bring cryptocurrency technology such as blockchain to the wider financial world.
Initially, eToro’s DeFi portfolio will consist of 11 DeFi cryptoassets—Ether (ETH), Uniswap (UNI), Chainlink (LINK), Aave (AAVE), Compound (COMP), Yearn.finance (YFI), Decentraland (MANA), Polygon (MATIC), Algorand (ALGO), Basic Attention Token (BAT), and Maker (MKR).
“DeFi is one of the most talked-about innovations in finance, with thousands of new cryptoassets emerging in recent months. But for people who don’t have the time to research every asset’s whitepaper, the market may seem like a minefield,” Dani Brinker, head of portfolio investments at eToro, said.
“By packaging up a selection of cryptoassets in a DeFi CopyPortfolio, we’re doing the heavy lifting and enabling our customers to gain exposure and spread the risk across a variety of cryptos.”
To buy into the new portfolio, users will have to make a minimum initial investment of $1,000 and, once they have invested, will be able to track and chart the portfolio’s performance on eToro’s platform.