Circle Invest Adds ‘Buy the Market’ Feature
Circle Invest, the retail cryptocurrency trading platform of Goldman Sachs-backed Circle, recently announced the addition of a new ‘Buy the Market’ feature that enables investors to automatically diversify their holdings across multiple digital currencies with a single click of a button.
All our coins. All at once.
Our new Buy The Market feature just launched on Circle Invest.
Find out more about our new way to invest in crypto here: https://t.co/Y3xEl2PIlf
— Circle Invest (@circleinvest) May 22, 2018
According to the announcement, the new feature allows investors to quickly distribute capital across 7 different assets, including Monero and Zcash.
“This is one of the first experiences of its kind for consumers. Other crypto products that allow you to invest in market weight distributed fashion are accompanied by high minimums and 3% management fees. Circle Invest removes all this friction, making investing in multiple coins at once available for anyone at the same competitive pricing we deliver on all of our coins.”
This news comes a week after Circle announced the closing of a $110 million Series D financing round, where it unveiled plans to launch its own stablecoin called USD Coin. The latest investment round, which was led by crypto mining hardware maker Bitmain, was largest in crypto history.
It has been an eventful month for other retail cryptocurrency investing apps. On Monday, San Francisco-based Abra announced that it now supports direct deposit and withdrawals of Litecoin. Last week, Israel-based social trading platform eToro announced plans to expand to the United States later this year, enabling U.S. citizens to trade on the company’s social investing platform for the first time. Finally, Palo Alto-based Robinhood, the popular feeless mobile trading app, announced earlier this month that it has closed a Series D financing led by DST Global, raising $363 million at a $5.6 billion valuation to build out its crypto trading platform.
Competition within the retail crypto investment app space is quickly heating up, and Circle Invest is building out its functionality to stay ahead of the curve.