A funding of 670 million USD! Australian investment platform to include Bitcoin in its latest commodity investment portfolio

The mobile financial investment platform Raiz Invest, focusing on traditional finance, has launched its seventh investment portfolio product - Sapphire, with Bitcoin accounting for 5% of the investment allocation. The platform stated in a press release, "Cryptocurrencies like Bitcoin may play a more significant role in clients' investment portfolios in the future."

Bitcoin Included in Investment Portfolio

Raiz Invest is a mobile app financial investment platform in Australia. Since introducing its first investment portfolio product for platform users in 2016, Raiz has been listening to customer feedback, continuously innovating to provide a variety of investment portfolio products ranging from conservative to aggressive for investors.

According to the company's latest press release, after 18 months of development and preparation, the platform will launch its seventh investment portfolio product, "Sapphire." The new product consists of 95% large-cap stocks from the United States, Australia, Europe, and Asia, as well as Australian corporate bonds and foreign exchange products. Additionally, 5% of the allocation will be allocated to invest in Bitcoin for the first time. George Lucas, CEO of Raiz Invest, stated:

"Although Raiz's latest investment portfolio carries high risk, feedback from many customers clearly indicates a strong interest in cryptocurrency investments, and the design of the Sapphire investment portfolio aims to meet this demand."

Moreover, to ensure the safe storage of Bitcoin, the Bitcoin in the Sapphire investment portfolio will be custodied by Gemini, a cryptocurrency exchange and custodian founded by the Winklevoss twins.

Increasing Focus on Cryptocurrency Investments

Raiz Invest referenced a research report released by Charles Schwab, a U.S. stock broker, in December 2019 in their press release, indicating that while blue-chip stocks are the preferred investment for the Baby Boomer generation (born 1946-1964) and Generation Z (born 1995-2005), Millennials (born 1980-1990) tend to allocate money to cryptocurrency assets.

On the other hand, due to the financial crisis triggered by the COVID-19 pandemic, governments worldwide are issuing more fiat currencies. Raiz Invest believes that cryptocurrencies like Bitcoin may play a more significant role in clients' investment portfolios in the future. George Lucas stated:

"The newly launched Sapphire investment portfolio is another example of Raiz listening to customers and providing them with diversified investment choices and control, especially as we navigate through the COVID-19 pandemic, where clients are reassessing their investment targets."

Rapidly Growing Emerging Investment Platform

Established in 2016, Raiz Invest provides investment services to users in Australia and Indonesia, offering micro-investment services for large-cap stocks, indices, exchange-traded funds (ETFs), and other investments. It is one of the fastest-growing financial investment platforms in the market. According to the company's second-quarter performance announcement for the 2020 fiscal yeardata, the company's funds under management have reached 4.447 billion Australian dollars (6.7 billion U.S. dollars). The growth trajectory of Raiz Invest's funds under management is illustrated in the following chart:

Furthermore, according to data from the Australian Securities Exchange, the company currently has 215,000 active users per month and generated slightly over 6 million U.S. dollars in revenue in 2019, doubling its revenue from the previous year.

In 2020, more prominent figures or companies in the traditional financial sector are beginning to engage with the cryptocurrency market. According to previous reports, Coinbase and Gemini received approval from JPMorgan Chase in April, marking the first time the U.S. banking giant provided business support to cryptocurrency service providers.