May 8, 2021

Betterment Staying Away From Crypto Despite Mainstream Attention

Betterment, the robo-advising investment firm, has no plans to give its customers access to cryptocurrencies just yet.

Even as Bitcoin and other digital currencies increasingly get mainstream acceptance across Wall Street, Betterment — which has about $30 billion in assets under management — says it’s still doing its research.

“We’re believers that if we can provide the right kind of context and advice, that it’s OK to participate in some of these newer asset classes,” Chief Executive Officer Sarah Levy said during an interview Tuesday at Bloomberg’s Wealth Summit. “I’d like us to find a way to responsibly offer crypto, but I can’t say that we’re there yet. I think we’re still in kind of a watch-and-learn mode.”

The comments come as more institutional players are unveiling vehicles that allow their customers to buy, sell and hold cryptocurrencies.

Earlier this year, Mastercard Inc.

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