BlockTrust IRA Launches AI-Driven Trading Tools for Crypto Investments
As spot bitcoin exchange-traded funds grow, individual retirement accounts (IRAs) are increasingly allowing exposure to cryptocurrencies. Key points include:
- IRAs offer tax advantages and a range of investment options, including cryptocurrencies.
- Current strategies primarily involve buying and holding assets, which may not be effective for volatile cryptocurrencies.
- BlockTrust IRA aims to manage crypto positions to capitalize on market volatility.
- BlockTrust utilizes an AI tool combined with traders to move clients into cash when necessary.
- Animus Technologies supports BlockTrust by quantifying large data sets, previously available only to high-net-worth individuals.
- Currently supports trading in bitcoin and ether, along with 60 other cryptocurrencies.
- Minimum investments are $1,000 for non-managed accounts and $25,000 for managed accounts, with fees as low as 0.4% and 0.14%, respectively.
- Launched in February, BlockTrust IRA quickly amassed $10 million in assets, aiming for $100 million by year-end.
- Available to global users who pass KYC checks, with U.S. residents benefiting from tax-deferred savings.
- Concerns over shifting trading strategies due to market changes acknowledged but not seen as a threat by the CEO.