Social Trading Network eToro Launches New CopyFund for Cryptocurrencies

Social trading network eToro has just announced the launch of a new Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term investment instrument CopyFund. The move comes as eToro has seen the number of users trading cryptocurrencies grow fourfold in just twelve months and as the total market cap of all cryptocurrencies reaches $100 billion.

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The new CopyFund has been allocated since mid-April and has seen returns of over 120% since its inception.

eToro says that its first cryptocurrency CopyFund will invest in the two largest cryptocurrencies, Bitcoin and Ethereum. The weighting of different assets in the CopyFund will be determined by the market cap of individual cryptocurrencies. The new fund will be regularly analysed and automatically rebalanced once a month.

Yoni Assia, co-founder and CEO of eToro, comments:

“Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term and cryptocurrencies represent the biggest innovation in financial services since the introduction of computers into finance. Today we’re making this market more accessible to a wider pool of investors.

More and more traders and investors are learning about the potential of this market and getting involved. Now they will be able to access a long-term investment strategy that is constantly reviewed and rebalanced.

We have been seeing an increasing number of our clients looking for a simpler way to access investments in cryptocurrencies - with a view to building a portfolio in the future. They were asking how to allocate their investments between the two largest cryptocurrencies that are traded on eToro, so we have launched an automatically rebalanced investment strategy to simplify their investments into this new exciting asset class.

We’re launching this week the Crypto-currency CopyFund. We plan to add more cryptocurrencies such as Ripple and Dash, in the near future to expand our offering as well.”