US broker M1 Finance to launch cryptocurrency trading

Clients will be able to sell and buy 10 crypto assets without commission for trades

13.07.2022 - 07:30

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What’s new? Online broker M1 Finance will provide clients with the option to invest in cryptocurrencies. In the first phase, 10 assets will be added, including bitcoin, Ethereum, Solana, Litecoin, and Aave. Owners of a funded investment account can request early access to the feature to allocate shares of their portfolio under the offered assets. The option to open cryptocurrency accounts will be available “in a few weeks,” the company’s founder Brian Barnes.

Press release

What else is known about the service? The M1 Finance platform will not commission for trades. The main reason why the broker integrates cryptocurrencies is the high demand for the service from the M1 clients. Barnes stressed that about half of the users surveyed plan to invest in digital assets.

Earlier, online broker Robinhood added cryptocurrency funds of the digital asset manager, Grayscale Investments, based on bitcoin and Ethereum to its platform. Users can trade Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) stocks directly through the app. GBTC and ETHE units offer investors access to cryptocurrency without having to buy or store digital assets directly.

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