Mumbai 16th March, 2022: Vested Finance has launched three new Vest-related offerings, giving Indian investors more choice and control over their US investments. The three new Vest offerings are:
- Bitcoin Vest – A portfolio that gives investors an alternative way to invest in Bitcoin and to hedge against taxation in direct cryptocurrency investments
- Third-party Vests – Vests created by industry analysts like Wright Research and Negen Capital
- DIY Vest – Investors can create their own portfolios
Vests are curated portfolios that comprise stocks and/or ETFs. Vests are constructed with different goals or themes in mind. Before this launch, only Vests created by Vested were offered on the platform. Now users and industry analysts can also create their own Vests.
The Bitcoin Vest gives Indian investors an alternate way to invest in Bitcoin. Budget 2022 introduced a 30% tax on profits made by Crypto investors. Furthermore, a 1% tax deducted at source is also proposed on all crypto transactions. Through the Bitcoin Vest, Indian investors can get exposure to Bitcoin without directly buying any cryptocurrency. In this way, investors could benefit from lower taxation.
The Bitcoin Vest is constructed using equities of various publicly traded companies that have exposure to Bitcoin. Plus, it also has a small allocation to the ProShares Bitcoin Strategy ETF (BITO), a Bitcoin futures ETF.
Third-party Vests are portfolios constructed by external analysts who have years of experience in the investment industry. These analysts can rebalance the Vests when required, and with a single click, Vested users can accept the latest rebalancing notification. Vested is launching these Vests exclusively with a select few analysts that include the likes of Negen Capital and Wright Research.
As the name suggests, DIY Vests are Vests that users can create on their own. This will help them track specific strategies and share them more easily with others. Investors can also use these Vests as custom watchlists and easily rebalance the Vest as and when required.
Commenting on the launch of these Vests offerings, Viram Shah, Co-founder & CEO, Vested Finance said, “At Vested, it has always been our endeavor to enable Indian investors to avail global diversification opportunities in an easy and cost-effective manner. We launched Vests that are researched and created in-house more than two years ago. Since then, we have witnessed great interest from users to invest in the Vests. Hence we have decided to offer more Vests to our customers and to let them create their own Vest. Additionally, the Bitcoin Vest will allow Indian investors to invest in Bitcoin without buying any Bitcoin and Third-party Vests are a step towards adding more research and advisory to the Vested platform.”
Neil Bahal, Founder and CEO of Negen Capital, commented on the launch of their Vest, “Our strategy is to take advantage of the recent sell-off in US Tech stocks and create a Vest that would give us exposure to segment leaders with high growth. Vested Finance is our partner of choice as they are solving a critical issue of diversification for Indian investors. I believe investors should have a long-term view of US equities and invest gradually via SIP to minimize the impact of volatility.”Sonam Srivastava, Founder, Wright Research on the launch of the Wright Research Vest said, “The Wright Tactical US is a moderate-risk tactical asset allocation portfolio that is rebalanced every month to achieve optimal allocation for any market regime. If a customer prefers well-diversified equity portfolio exposure through various ETF holdings, one may like this.”