Raiz launches new retail Bitcoin fund to keep its millennial clients happy

Millennial focused investing app Raiz Invest (ASX:RZI) is launching a seventh investment portfolio — and this one offers exposure to Bitcoin.

The company promises its Sapphire portfolio will offer bitcoin exposure without the difficulties of direct investment.

However, only 5 per cent of the fund will be Bitcoin, the remainder will be exchange traded funds (ETFs) offering exposure to large cap stocks and debt markets.

Raiz CEO George Lucas believes the new fund will help millennial clients with a long-term mindset.

He also thinks millennials are more inclined to invest in crypto assets, and the case for crypto investment will be helped by governments printing money.

“The investment objective of the Sapphire portfolio is to provide exposure to Bitcoin in a managed, risk-adjusted way,” Lucas said.

“Many of our investors are millennials who have time on their side when adopting an investment choice such as the Sapphire portfolio for the long term.

“The Sapphire…