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Investing in Bitcoin
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Investing in Bitcoin means that you own individual Bitcoin, which is traded on a cryptocurrency exchange.
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Trading individual Bitcoin comes with transaction fees that are typically between 2-6%.
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Practically, investing in Bitcoin also means that you need a digital wallet to store it, for which you’ll need a password that you cannot lose. Bitcoin does not have a support line or password reset function.
Investing in a Bitcoin ETF
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Investing in a Bitcoin exchange traded fund, or ETF, means that you are not investing in individual Bitcoin. Instead, you’re investing in a fund that tracks the value of Bitcoin, and trades on a traditional market exchange, like the Nasdaq. In other words, the ETF attempts to closely mimic the price and performance of Bitcoin.
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There are no transaction fees with an ETF, instead they typically charge a management fee of <1%. This cost is included in your Acorns subscription. We don’t charge surprise fees.
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You do not need a digital wallet to invest in a Bitcoin ETF.
The Bitcoin ETF offered through Acorns is called Proshares Bitcoin Strategy and trades under the ticker symbol BITO. This ETF trades Bitcoin Futures contracts in an attempt to provide exposure to Bitcoin pricing.
To explore the Bitcoin ETF in your Acorns app, make sure you’re on the latest version of the app, and look for the prompt from your Invest and Invest portfolio screens.
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This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Article contributors are not affiliated with Acorns Advisers, LLC. and do not provide investment advice to Acorns’ clients. Acorns is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.
