Cryptocurrencies
Wealthsimple Adds Crypto Portfolios to Group-Retirement Plans
- Funds to hold 1% to 3% in crypto ETFs, automatically rebalance
- Crypto is ‘part of the cultural conversation,’ executive says
Source: Wealthsimple
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Power Corp. of Canada’s online financial-services company Wealthsimple is adding retirement portfolios that include Bitcoin and Ethereum for its group-retirement clients, another sign of the possible mainstreaming of cryptocurrencies.
Employees of companies with retirement plans run by Wealthsimple Work will be able to allocate 1% to 3% of their holdings into exchange-traded funds made up of Bitcoin and Ethereum, Wealthsimple said Thursday. The plans will automatically rebalance to keep the crypto, stock and bond portions of their portfolios at their targeted levels.