The U.S.-based broker M1 Finance announced the ability to trade ten digital assets commission-free.
Introducing M1 Crypto. Learn more about our newest product and why we launched it from our founder and CEO, Brian Barnes: https://t.co/Be5Zy7WqAU. pic.twitter.com/SY8x5Pn9JM
— M1 (@M1Finance) July 11, 2022
The service will launch in the coming weeks. Initially, support is planned for Bitcoin, Ethereum and other highly liquid assets with large market capitalizations.
The founder of the firm, Brian Barnes, explained that the addition of the service was driven by strong demand from customers seeking diversification.
“Approximately half of the users we surveyed wanted to invest in cryptocurrencies,” he said.
Founded in 2015, M1 Finance stores client assets worth about $5 billion. The online broker offers commission-free trading of stocks and ETF and retirement account management.
One of M1 Finance’s key offerings is capital allocation into thematic portfolios.
The service appeals to passive-investment‑oriented clients. It is supported by algorithmic software that automatically rebalances each holding according to the initial investment strategy or asset allocation.
“Create a crypto portfolio that fits your financial goals and risk tolerance. You can create your own variants or use expert-developed ones focused on DeFi, Web3 and large-cap cryptocurrencies,” — the company’s blog says.
Earlier in February, the Miami-based Avenue Securitiesанонсировала the addition of cryptocurrency trading.
Earlier access to digital assets for US clients opened Interactive Brokers in partnership with Paxos.
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