Mobile trading platform eToro is looking to expand its crypto offering; The company has launched a new portfolio that provides users with exposure to decentralized finance (DeFi) through a suite of crypto assets.
The newly announced DeFi portfolio of the platform; Ethereum (ETH), Uniswap (UNI), Chainlink (LINK), Aave (AAVE), Compound (COMP), Yearn.Finance (YFI), Decentraland (MANA), Polygon (MATIC), Algorand (ALGO), Basic Attention Token It consists of 11 DeFi assets, including (BAT) and Maker (MKR).
ETH accounts for more than a third of the portfolio, and ALGO for 11.67 percent, while the weight of the remaining nine assets varies between 4% and 8%.
Dani Brinker, head of portfolio investments at eToro, commented:
“DeFi is one of the most talked about innovations in finance, with thousands of new crypto assets emerging in recent months. But for people who don’t have time to research every asset whitepaper, the market can seem like a minefield. We also pack a range of crypto assets in the DeFi CopyPortfolio, thus taking the hard part in ensuring our customers are exposed to DeFi and spread the risk across various cryptos.”
DeFi Market Rises Despite Impending Regulatory Crisis
The DeFi market is widely regarded as one of the biggest success stories seen in the crypto market, with its valuation going from just a few million dollars to over $100 billion in 2021. With crypto adoption increasing during this bull season, the DeFi market has also benefited from this development and has seen a peak. Seeing that the crypto ecosystem is on its way to becoming the banking system of the future, Wall Street giants such as JP Morgan and Goldman Sachs have also increased their interest in DeFi.
However, while things seem to be going well for the DeFi market, the US regulatory environment could cause problems for the popular ecosystem. The recent Infrastructure bill and the comments made by Gary Gensler, chairman of the US Securities and Exchange Commission on DeFi, indicate that the SEC is seeking regulatory pressure on the DeFi market.