Despite the bear market scaring away many crypto investors in 2022, online brokerage firm M1 Finance is set to launch crypto trading accounts and trading services over the next few weeks.
The Chicago-based company was founded in 2015 and claims to have more than $5 billion worth of assets under management (AUM). The brokerage also offers retirement accounts in addition to providing commission-free trading on stocks and exchange-traded funds (ETFs).
In a July 11 blog post explaining the move, M1 CEO and founder Brian Barnes noted that it was primarily driven by strong consumer demand to support crypto assets:
“The crypto market is still young and volatile; Bitcoin emerged just 13 years ago.” he stated before adding, “Cryptocurrencies are a roughly trillion-dollar asset class that over 20% of Americans have invested in, traded, or used.”
“It has been the most requested asset addition, with roughly half of our surveyed users wanting to use M1 to invest in crypto.”
Adding them to the...
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