Marco Verch / Flickr
Binance

Tel Aviv-based social trading platform eToro unveiled a new partnership Tuesday with cryptocurrency information services firm The TIE to manage a tradeable crypto index based on Twitter sentiment.

According to the announcement, The TIE-Long Only CopyPortfolio is based on The TIE’s machine learning and language processing models that analyze 850 million tweets per day to determine monthly rebalances based on positive sentiment.

The portfolio currently has positions in Dash (DASH), EOS (EOS), XRP (XRP), IOTA (MIOTA) and Ethereum Classic (ETC) based on the quantitative model.

The TIE Long Only portfolio current allocation (eToro)

“In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them,” said Guy Hirsch, US managing director at eToro. “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.”

eToro notes that the sentiment-driven trading strategy has a hypothetical return of 281% since October 2017 with an average annual return of 123%. The CopyPortfolio’s minimum investment is $2,000.

More: Trade Based on Crypto Twitter Sentiment
Related: Crypto Twitter Is Less Bullish on Bitcoin Than Institutional Investors
Photo: Marco Verch / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager