Australia-based micro-investment startup Raiz has planned to bring Bitcoin (BTC) fund options to its users, Cointelegraph suggests.
Raiz is a fintech startup which offers micro-investment services to its 300,000 registered accounts. 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).
The company has been pushing to include Bitcoin in its offering, and has reportedly obtained a relief from the Australian Securities and Investment Commission (ASIC) to operate the fund. The Bitcoin retail fund is meant to only allocate 5% to a direct Bitcoin exposure, with the remainder composed of ETFs.
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