Exchange News- This new asset class may now be included in their long-term investment plan.
- Pie-based investing is a fundamental feature of M1 Finance.
Many crypto investors will be frightened in 2022 due to a bear market, but online brokerage business M1 Finance plans to provide cryptocurrency trading accounts and services soon. There are more than $5 billion in assets under management at the Chicago-based business, which was launched in 2015. In addition to commission-free trading on equities and ETFs, the brokerage provides retirement accounts.
M1 CEO and founder Brian Barnes said in a blog post on Tuesday that the decision was primarily motivated by significant demand from consumers to embrace crypto assets.
According to the CEO:
“The crypto market is still young and volatile; Bitcoin emerged just 13 years ago. Cryptocurrencies are a roughly trillion-dollar asset class that over 20% of Americans have invested in, traded, or used:”
Plans to Capitalize on the Rising Crypto Demand
For customers, this new asset class may now be included in their long-term investment plan, he added. Bitcoin (BTC), Ether (ETH), and “other large-cap liquid crypto assets” are among the ten cryptocurrencies supported by the business. M1 Finance has claimed that it plans to extend its offers over time and that commission-free crypto trading would be comparable to Robinhood’s offerings.
Pie-based investing is a fundamental feature of M1 Finance. It enables users to design a portfolio of “Pies,” with each asset and its exposure proportion depicted as a slice of a pie graph. Based on the investor’s original investment plan or asset allocations, algorithmic software may automatically balance each piece of the pie.
Also, the business provides Pies, which are curated and automated that give passive exposure to a wide range of companies. Pie-investing will be available on the new crypto accounts, according to M1 Finance.
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Source: https://thenewscrypto.com/prominent-brokerage-firm-m1-finance-plans-to-offer-crypto-services/