RATE Group | Raiz to Offer Bitcoin Fund to Australian Retail Investors in 2020
76502
post-template-default,single,single-post,postid-76502,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Raiz to Offer Bitcoin Fund to Australian Retail Investors in 2020

21 Jan Raiz to Offer Bitcoin Fund to Australian Retail Investors in 2020

Posted at 09:43h in Cryptocurrency News by

[ad_1]

Australian micro-investment startup Raiz is set to bring Bitcoin (BTC) fund options to its users, Australian Financial Review (AFR) reports on Jan. 20. The firm cleared the last legal hurdle with the Australian Securities and Investment Commission (ASIC), the country’s financial watchdog agency.

Raiz is a fintech startup offering micro-investment services to its 300,000 registered accounts. Like the United States-based Acorns and other worldwide startups, it “rounds up” the spare change from the users’ purchases to invest it in a set of investment products, generally comprising exchange traded funds (ETFs).

According to AFR sources, Raiz has been pushing to include Bitcoin in its offering, and has reportedly obtained a relief from ASIC to operate the fund. This was seemingly the last legal hurdle, paving the way for implementation in the first half of 2020.

The proposed Bitcoin retail fund is said to only allocate five percent to a direct Bitcoin exposure, with the remainder…

[ad_2]

Source link

Tags:
, , , , , , ,