Trading platform eToro has launched a portfolio of bitcoin proxy stocks.
- Besides carrying exposure to bitcoin itself, the portfolio includes companies “in the value chain behind bitcoin” including PayPal, Nvidia, Canaan and Coinbase, according to an announcement Monday.
- Notably, it does not carry stocks whose only link to crypto is a treasury allocation, such as MicroStrategy or Tesla. (Square, which has both a bitcoin treasury allocation and enables BTC trading through its Cash App, is included in the portfolio.)
- About a quarter of the “BitcoinWorldWide” portfolio is bitcoin itself.
- Each of the other stocks represents no more than 3.33% of the total portfolio.
- The aim of eToro’s portfolio is to provide access to companies “that deliver a service or product essential to the further adoption of bitcoin,” according to Dani Brinker, eToro’s head of portfolio investments.
- eToro could also be included in such a portfolio by virtue of its planned public listing via a merger with a special-purpose acquisition company (SPAC).
Read more: How eToro Got Ready to Go Public
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