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eToro, the mobile trading service is looking to expand its crypto offering and now it is tapping into one of the most popular crypto use cases defi. The platform announced a new Defi portfolio with 11 digital assets including Ether, Uniswap, Chainlink, Aave, Compound, Yearn.Finance, Decentraland, Polygon, algorand, basic attention token, and maker.
Dani Brinker, head of portfolio investments at eToro comments,
“DeFi is one of the most talked-about innovations in finance, with thousands of new crypto assets emerging in recent months. But for people who don’t have the time to research every asset’s whitepaper, the market may seem like a minefield. By packaging up a selection of crypto assets in a DeFi CopyPortfolio, we’re doing the heavy lifting and enabling our customers to gain exposure and spread the risk across a variety of cryptos.”
Out of the total 11 Defi assets, one-third of the assets are based on Ethereum blockchain while 11.67% are based on Algorand while the remaining 9 assets weightage is in the 4%-8% range.
Defi Market Continues to Surge Despite Looming Regulatory Crisis
Defi market is considered one of the biggest success stories to come out of the crypto market and its valuation grew from just a few million dollars to over $100 billion in 2021. With rising crypto adoption this bull season, the Defi market has also seen a peak in interest from the Wall Street giants including JP Morgan and Goldman Sachs who see the crypto ecosystem grew to become the banking system of the future.
However, as things seemed going great for the defi market, the US regulatory environment could brew trouble for the popular ecosystem. The recently passed Infrastructure bill and the comments made by the US Securities and Exchange Commission head Gary Gensler regarding Defi indicates the SEC is looking for a regulatory crackdown on the defi market. Recently, SEC also onboarded a blockchain analytic firm to help it with the regulatory oversight.
The post eToro Sets Eyes on Defi Market, Launches 11 Defi Assets Based Investment Portfolio appeared first on Coingape.
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