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Fintech App Titan Adds Algorand, Chainlink and Uniswap to Actively Managed Crypto Portfolio
The company believes the three cryptos will outperform others as they become more widely adopted.
Titan has added ALGO, LINK and UNI to the actively managed crypto portfolio it launched in August following its Series B raise led by Andreessen Horowitz, the company said Tuesday.
- The mobile investment platform behind the fintech app said the additions would give it exposure to oracles (via LINK), decentralized finance (via UNI) and smart-contract base layers (via ALGO), categories the company believes will outperform the benchmark as adoption continues to grow.
- “These new cryptos represent what Titan believes to be great long-term compounders in line with Titan’s time-tested investment philosophy,” Gritt Trakulhoon, crypto investment analyst at Titan, told CoinDesk via email.
- Titan initially said its Titan Crypto portfolio would have a collection of five to 10 cryptocurrencies, including BTC, ETH, ADA and XLM. On Tuesday, the company said that, along with the additions, it would be trimming the fund’s positions in BTC, ETH and ADA, and fully exiting its position in XLM.
- Titan manages approximately $500 million for over 30,000 clients. It set up Titan Crypto to make it easier for customers to invest in crypto.
- Its investment team will make monthly adjustments to the allocations and coins contained in the crypto portfolio based on performance, the company said.
UPDATE (Sept. 28, 23:11 UTC): Adds comment from Titan.
STORY CONTINUES BELOW
Read more: Fintech App Titan Adds Actively Managed Crypto Basket
Nelson Wang
Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.
