Raiz Invest Sapphire
Micro-investing App Raiz Invest has launched a new portfolio - called Sapphire - that includes direct exposure to cryptocurrencies.
Sapphire will have a 5 per cent target allocation to cryptocurrency Bitcoin, with the remainder of the portfolio to be allocated to global large cap stocks and Australian corporate debt and money markets via exchange traded funds. Bitcoin will be traded and stored with New York Trust company Gemini, which was started up by the Winklevoss twins.
“Although this latest portfolio offering from Raiz is very high risk, feedback from many customers has clearly shown that they have an appetite for an investment strategy that has an exposure to cryptocurrencies, and the Sapphire portfolio has been designed with this in mind," Raiz chief executive officer, George Lucas, said.
The Raiz Invest platform currently has 218,000 active monthly customers and over $404 million funds under management.