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eToro Launches Crypto Portfolio That Gauges Market Sentiment

cryptoglobe

7mon ago

Global crypto investment platform eToro has announced the launch of a new product for crypto investors that will provide access to a sentiment-based portfolio.

According to the press release shared with CryptoGlobe, eToro is launching TheTIE-LongOnly crypto portfolio for investors, which is the result of a collaboration with the algorithm-driven firm TheTie. The new portfolio uses “highly advanced natural language processing tools” to determine market sentiment towards various crypto-assets, by mining data from social networks and generating an investment algorithm.

TheTIE is leveraging the day-to-day sway in the crypto markets, stating

The value of digital assets is driven by supply and demand, and movement is determined by the wisdom of the crowd.

Guy Hirsch, US managing director of eToro said the portfolio’s release will give retail investors access to more powerful tools,

In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them. This puts individual investors at a major disadvantage. In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.

The analytics firm reports scanning more than 850 million tweets per day to generate their algorithm for the portfolio, which will be allocated to a subset of thirteen crypto-assets. The minimum investment in the product is $2,000.

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