Circle Unveils New Product for Retail Cryptocurrency Investors

Cryptocurrency startup company, Circle, has unveiled a new investment product. The launch was announced via a post on the company’s blog. The Goldman Sachs-backed firm recently completed a lucrative investment round while announcing plans for a stablecoin tied to the USD.

Buy the Market

According to a blog post by Senior Product Manager, Rachel Mayer, the latest addition to the catalog of crypto investment offerings at the firm is called “Buy the Market.” This new product is targeted at retail crypto investors, especially first-time investors looking to test the proverbial waters. The investment tool features seven cryptos; Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash, Monero, and Ethereum Classic.

The new product allows users to invest in all seven listed cryptos simultaneously. Users also get to decide how much they wish to put up in their portfolio. Buy the Market uses a weighted allocation framework to distribute the funds among the seven cryptos using their market capitalization. The minimum investment sum is $1 while the maximum weekly limit is $10,000.

Speaking to Forbes on the new product, Rachel Mayer said:

This is for the person who’s just getting their feet wet in crypto, and don’t really know how or where to start. They can easily sign up and within a few minutes connect their bank account and instantly get access.

It is evident that “Buy the Market” is strictly for the everyday crypto investor who doesn’t have the minimum $250k outlay of major institutional traders. The funding limits also help to smoothen the regulatory and reporting roadblocks that usually trail significant financial investments.

Circle Committed to Comprehensive Coverage of the Cryptocurrency Market

This move by Circle marks a return to the company’s roots. Established in 2013, the firm’s first focus was enabling massive adoption of cryptos in everyday commercial activities. In recent times, however, Circle has jumped on the institutional investment bandwagon which despite showing promise is yet to kick-off fully.

With this new investment product, Circle is spreading its net wide, ensuring that both ends of the crypto investment spectrum are satisfied. What’s more, the company plans to deliver this new offering at the same competitive pricing it offers institutional investors. Circle will have to compete with a few other startups like Coinseed that target small-time cryptocurrency investors.

How important is it for cryptocurrency firms to create products for both institutional and retail investors? Do you think Circle’s latest product will gain traction with everyday crypto investors? Let us know your thoughts in the comment section below.

Images courtesy of Circle, Shutterstock