A London based saving app receives investment from Crytpo Companies fund

A London headquartered savings app, has announced the addition of the Crypto Companies fund to its roster of investment funds.

The new fund available through Chip, which has saved its 400,000 users over £800m to date, enables users to get in on the cryptocurrency revolution, without directly investing in cryptocurrencies.

The new fund is managed by Invesco and currently invests in 51 companies involved in the technology and infrastructure behind cryptocurrencies, a cutting edge technology set to reshape the world of finance.

For example, some companies included in the fund provide the infrastructure for bitcoin mining, while others provide the tech to trade cryptocurrencies, and some are even involved in manufacturing the hardware involved in blockchain.

The Crypto Companies fund (official name Invesco CoinShares Global Blockchain UCITS ETF) is available through Chip’s Investments feature, which already offers a selection of funds from the world’s largest asset manager, BlackRock.

Chip’s CEO and founder, Simon Rabin, commented: “At Chip, we want to give everyone the tools to grow their money, which not only includes chart-topping savings accounts, but also investing.

“Now, with the addition of the Crypto Companies fund, we want to enable users to dip their toes into the world of cryptocurrencies without risking the volatility that comes with directly investing into crypto assets.

“It is not the same as trading cryptocurrencies and it won’t give you the wild ride of taking you to being a millionaire and back again whilst you sleep, however since the fund was created in March 2019 it has returned an average annual return of 42.7 per cent for its investors.”

Simon concluded:. “Of course, it’s worth noting that with these historic eyebrow raising returns comes risks in equal measure. We don’t expect this to be for everyone, but if you can accept risks in pursuit of the opportunity to earn eyebrow raising returns, it could be for you.”

“We have monumental plans for 2022 and these new features and updates are just the beginning. I don’t doubt we’ll make massive strides towards our goal of building the best savings account in the world.”

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