Bullish Crypto News for 15.2M Investors Who Use the Acorns App

Acorns — which has an estimated 15.2 million users and $15 billion in assets under management — says its customers can allocate a percentage of their portfolio to a BTC exchange-traded fund.

Explaining the rationale behind its decision, the company said BTC gives investors the opportunity to diversify their holdings — and claimed cryptocurrencies and the stock market have a low correlation. (However, BTC and the Nasdaq 100 have traded in lockstep for most of this year.)

Setting out its new stance in a manifesto, Acorns revealed it has been keeping its eye on cryptocurrencies since it went mainstream — with executives asking themselves whether BTC would be beneficial for the "financial wellness" of their users in the long run.

Noting that Bitcoin is volatile — doubling its value in 2021 but erasing most of these gains in January 2022 alone — Acorns explained that it believes the ProShares Bitcoin Strategy ETF, which offers exposure to BTC futures, is the best approach