Recommended Free Tools
Betterment announced an agreement to acquire Seattle-based Makara on February 8, 2022, to add guided cryptocurrency portfolios to its investing platform. The deal announcement did not disclose a purchase price or confirm an exact closing date. Betterment launched crypto portfolios later that year; its current offering is different from the direct-digital-asset portfolios described in the 2022 announcements.
What Betterment announced about Makara
Betterment said it had agreed to acquire Argonaut Asset Management Inc., which did business as Makara and managed cryptocurrency portfolios. Betterment described the move as a way to expand beyond its existing investment offerings and give customers and financial advisors access to expert-built, diversified crypto portfolios alongside other investments.
Betterment said Makara’s crypto experts and engineering team would join the company after the acquisition closed. Makara co-founder and CEO Jesse Proudman said the company aimed to make long-term cryptocurrency investing easier and more accessible. Betterment CEO Sarah Levy framed the acquisition as part of Betterment’s goal of offering long-term diversification and a wider range of assets. Betterment’s February 8, 2022 announcement did not state the purchase price; it said closing was expected later that quarter, subject to customary conditions.
How the deal led to Betterment’s 2022 crypto launch
The acquisition announcement described an intended product direction, not a fully launched service. On September 27, 2022, Gemini announced that it would serve as custodian for Betterment’s forthcoming crypto portfolios, which were to be built from digital assets listed on Gemini Exchange. Betterment announced its Crypto Investing offering on October 12, 2022, describing four managed portfolios for retail clients and financial advisors.
Free tools Windows power users keep installed
One-click scans. No signup required.
Those 2022 announcements described portfolios assembled from digital assets. That historical structure should not be confused with Betterment’s current crypto portfolio, which is built from exchange-traded funds.
How Betterment’s current crypto offering differs
In a disclosure updated June 25, 2026, Betterment describes its Crypto ETF portfolio as holding spot Bitcoin and spot Ethereum ETFs, generally weighted by market capitalization. Its current product page says customers can invest through ETFs without owning cryptocurrency in a wallet, and describes automated portfolio adjustment.
| Feature | 2022 launch description | Current offering described by Betterment |
|---|---|---|
| Portfolio composition | Managed portfolios built from digital assets listed on Gemini Exchange, according to Gemini’s September 27, 2022 announcement. | Spot Bitcoin and spot Ethereum ETFs, generally weighted by market capitalization, according to Betterment’s disclosure updated June 25, 2026. |
| Exposure and custody | Gemini said it would act as custodian for the forthcoming portfolios of digital assets. | ETF exposure rather than direct wallet ownership, according to Betterment’s current product page. The available information does not establish whether the 2022 Gemini custody arrangement applies to this current ETF product. |
| Portfolio management | Betterment described four managed crypto portfolios for retail clients and advisors in its October 12, 2022 launch announcement. | Betterment describes automated adjustment of its Crypto ETF portfolio. The cited current disclosure does not establish more specific rebalancing rules. |
The change is a product evolution: the current ETF structure is not evidence that the portfolios launched in 2022 had the same composition or ownership arrangement.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the acquisition does—and does not—mean for investors
Betterment’s June 25, 2026 disclosure warns that crypto assets may not retain long-term purchasing power and that acceptance as a medium of exchange may not grow. Managed portfolios and ETF access do not remove the market risks associated with cryptocurrency exposure.
Quick wins for a faster PC:
Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →The cited announcements and current materials do not establish the current portfolio’s fees, exact account eligibility, or whether Gemini remains involved in its custody. Those details can change, so check Betterment’s current account terms and product disclosures before investing.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
