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Bitcoin, the largest digital currency by market value, climbed above $30,000 for the first time since June 2022. The bets that the Fed will soon end its aggressive monetary tightening campaign, as well as the banking turmoil, led to a rally in the cryptocurrency and crypto-related stocks.
Investors looking to ride the bitcoin rally could consider ETFs like ProShares Bitcoin Strategy ETF (BITO - Free Report) , Bitwise Crypto Industry Innovators ETF (BITQ - Free Report) , VanEck Bitcoin Strategy ETF , Valkyrie Bitcoin Strategy ETF (BTF - Free Report) and Valkyrie Bitcoin Miners ETF (WGMI - Free Report) . These funds might see massive trading volumes in the days ahead, given the bullish fundamentals.
Investors’ expectation that the Fed will soon pause its interest-rate hikes has made cryptocurrencies stand out this year. Additionally, the banking chaos has proven to be the biggest advantage for bitcoin. This is especially true as the failure of banks has sparked worries over financial stability across the globe, raising the demand for bitcoin. The crypto is now being seen as a reliable store of value amid the market turmoil (read: 4 Safe ETFs to Invest to Counter Global Financial Market Crisis).
Notably, the cryptocurrency has risen more than 45% since the collapse of Silicon Valley Bank last month. Industry advocates point to the recent rally as a sign that investors are converting some of their cash into digital currencies, though there is little evidence of that happening.
Further, there are increasing signs that the crypto market bottomed last November and has turned bullish. Any bad news is being shrugged off, signaling that the worst is over.
Bitcoin, which is closely correlated to the tech-heavy Nasdaq Composite Index, is now up more than 80% since the start of the year, flashing calls for a new bull market. In contrast, the Nasdaq Composite Index has gained 15% so far this year.
ProShares Bitcoin Strategy ETF invests primarily in bitcoin futures contracts and does not invest directly in bitcoin. It is the world's largest and most actively traded cryptocurrency ETF with AUM of $940.9 million and an average trading volume of 11.5 million shares.
ProShares Bitcoin Strategy ETF charges 95 bps in annual fees.
Bitwise Crypto Industry Innovators ETF offers exposure to the companies leading the new crypto economy. It tracks the Bitwise Crypto Innovators 30 Index, which measures the performance of the companies involved in servicing the cryptocurrency markets, including crypto mining firms, crypto mining equipment suppliers, crypto financial services companies, or other financial institutions servicing primarily crypto-related clientele (read: Top ETF Area of Q1 & Its Winning ETFs).
Holding 27 stocks in its basket, Bitwise Crypto Industry Innovators ETF is concentrated on the top two firms. It charges 85 bps in annual fees from investors and trades in an average daily volume of 97,000 shares. Bitwise Crypto Industry Innovators ETF has attracted $58.9 million in its asset base.
VanEck Bitcoin Strategy ETF
VanEck Bitcoin Strategy ETF seeks capital appreciation by investing in bitcoin futures contracts. It is actively managed and offers exposure to bitcoin-linked investments through an accessible exchange-traded vehicle. XBTF does not invest in bitcoin or other digital assets directly and charges 65 bps in annual fees.
VanEck Bitcoin Strategy ETF has amassed $40.6 million in its asset base and trades in a volume of 16,000 shares a day on average.
Valkyrie Bitcoin Strategy ETF is an actively managed ETF available through Nasdaq. It invests in bitcoin futures contracts and does not provide direct exposure to the price of bitcoin. BTF has accumulated $28.5 million in its asset base.
Valkyrie Bitcoin Strategy ETF charges 95 bps in annual fees and trades in a volume of 387,000 shares a day on average.
Valkyrie Bitcoin Miners ETF is an actively managed ETF that will invest at least 80% of its net assets (plus borrowings for investment purposes) in securities of companies that derive at least 50% of their revenues or profits from bitcoin mining operations and from providing specialized chips, hardware and software or other services to companies engaged in bitcoin mining. Valkyrie Bitcoin Miners ETF holds 25 stocks in its basket with a double-digit concentration on the top firm (read: 5 ETF Areas Up At Least 35% This Year).
Valkyrie Bitcoin Miners ETF has amassed $6.4 million in its asset base while trading in an average daily volume of 55,000 shares. It charges 75 bps in annual fees.
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Bitcoin Reclaims $30,000: ETFs to Ride the Rally
Bitcoin, the largest digital currency by market value, climbed above $30,000 for the first time since June 2022. The bets that the Fed will soon end its aggressive monetary tightening campaign, as well as the banking turmoil, led to a rally in the cryptocurrency and crypto-related stocks.
Investors looking to ride the bitcoin rally could consider ETFs like ProShares Bitcoin Strategy ETF (BITO - Free Report) , Bitwise Crypto Industry Innovators ETF (BITQ - Free Report) , VanEck Bitcoin Strategy ETF , Valkyrie Bitcoin Strategy ETF (BTF - Free Report) and Valkyrie Bitcoin Miners ETF (WGMI - Free Report) . These funds might see massive trading volumes in the days ahead, given the bullish fundamentals.
Investors’ expectation that the Fed will soon pause its interest-rate hikes has made cryptocurrencies stand out this year. Additionally, the banking chaos has proven to be the biggest advantage for bitcoin. This is especially true as the failure of banks has sparked worries over financial stability across the globe, raising the demand for bitcoin. The crypto is now being seen as a reliable store of value amid the market turmoil (read: 4 Safe ETFs to Invest to Counter Global Financial Market Crisis).
Notably, the cryptocurrency has risen more than 45% since the collapse of Silicon Valley Bank last month. Industry advocates point to the recent rally as a sign that investors are converting some of their cash into digital currencies, though there is little evidence of that happening.
Further, there are increasing signs that the crypto market bottomed last November and has turned bullish. Any bad news is being shrugged off, signaling that the worst is over.
Bitcoin, which is closely correlated to the tech-heavy Nasdaq Composite Index, is now up more than 80% since the start of the year, flashing calls for a new bull market. In contrast, the Nasdaq Composite Index has gained 15% so far this year.
ProShares Bitcoin Strategy ETF (BITO - Free Report)
ProShares Bitcoin Strategy ETF invests primarily in bitcoin futures contracts and does not invest directly in bitcoin. It is the world's largest and most actively traded cryptocurrency ETF with AUM of $940.9 million and an average trading volume of 11.5 million shares.
ProShares Bitcoin Strategy ETF charges 95 bps in annual fees.
Bitwise Crypto Industry Innovators ETF (BITQ - Free Report)
Bitwise Crypto Industry Innovators ETF offers exposure to the companies leading the new crypto economy. It tracks the Bitwise Crypto Innovators 30 Index, which measures the performance of the companies involved in servicing the cryptocurrency markets, including crypto mining firms, crypto mining equipment suppliers, crypto financial services companies, or other financial institutions servicing primarily crypto-related clientele (read: Top ETF Area of Q1 & Its Winning ETFs).
Holding 27 stocks in its basket, Bitwise Crypto Industry Innovators ETF is concentrated on the top two firms. It charges 85 bps in annual fees from investors and trades in an average daily volume of 97,000 shares. Bitwise Crypto Industry Innovators ETF has attracted $58.9 million in its asset base.
VanEck Bitcoin Strategy ETF
VanEck Bitcoin Strategy ETF seeks capital appreciation by investing in bitcoin futures contracts. It is actively managed and offers exposure to bitcoin-linked investments through an accessible exchange-traded vehicle. XBTF does not invest in bitcoin or other digital assets directly and charges 65 bps in annual fees.
VanEck Bitcoin Strategy ETF has amassed $40.6 million in its asset base and trades in a volume of 16,000 shares a day on average.
Valkyrie Bitcoin Strategy ETF (BTF - Free Report)
Valkyrie Bitcoin Strategy ETF is an actively managed ETF available through Nasdaq. It invests in bitcoin futures contracts and does not provide direct exposure to the price of bitcoin. BTF has accumulated $28.5 million in its asset base.
Valkyrie Bitcoin Strategy ETF charges 95 bps in annual fees and trades in a volume of 387,000 shares a day on average.
Valkyrie Bitcoin Miners ETF (WGMI - Free Report)
Valkyrie Bitcoin Miners ETF is an actively managed ETF that will invest at least 80% of its net assets (plus borrowings for investment purposes) in securities of companies that derive at least 50% of their revenues or profits from bitcoin mining operations and from providing specialized chips, hardware and software or other services to companies engaged in bitcoin mining. Valkyrie Bitcoin Miners ETF holds 25 stocks in its basket with a double-digit concentration on the top firm (read: 5 ETF Areas Up At Least 35% This Year).
Valkyrie Bitcoin Miners ETF has amassed $6.4 million in its asset base while trading in an average daily volume of 55,000 shares. It charges 75 bps in annual fees.