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Robo-Advisor Betterment Moves Into Crypto Via Makara Acquisition

Betterment customers will now be able to invest in pre-built crypto portfolios alongside their existing traditional investments.

Robo-advisor Betterment has bought Makara. (CoinDesk archives)
Robo-advisor Betterment has bought Makara. (CoinDesk archives)

Digital wealth management platform Betterment has agreed to purchase automated cryptocurrency portfolio provider Makara for an undisclosed price.

  • "Makara is to crypto today what we are to traditional investing, since pioneering robo-investing a decade ago," says Betterment CEO Sarah Levy. As Betterment allows customers easy investment in low-cost, professionally constructed equity portfolios, Makara offers the same for cryptocurrency.
  • Makara is among the first crypto robo-advisors to be registered with the U.S. Securities and Exchange Commission (SEC). Customers are able to choose from a set of "baskets" of assets based on their risk appetite. The company launched services last June with a waiting list of 20,000 customers.
  • Betterment is one of the largest robo-advisors in the world, managing $26.8 billion in assets for 615,000 individual clients.
  • Terms for the deal were not disclosed.

Read more: Why the Advisor Crypto Technology Gap Is Closing

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Jamie Crawley

Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.

Jamie Crawley