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Robo-Advisor Betterment Moves Into Crypto Via Makara Acquisition

Robo-Advisor Betterment Moves Into Crypto Via Makara Acquisition

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.

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

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

By Jamie Crawley
AccessTimeIconFeb 8, 2022, 4:01 PM
Updated May 11, 2023, 5:56 PM
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.

STORY CONTINUES BELOW

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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