OK, we know everyone out there in the civilized world is just dying to get in on the cryptocurrency (bitcoin) bandwagon. People reach out to us at FintekNews daily wanting to know how, where and when they should step up there life changing plans. Well, bitcoin futures are coming (next week), there are NO US available ETF’s (applied for ……but not yet) so what does a good(?) asset manager do? Well, here are some ways to get exposure, BUT these funds are only for accredited (wealthy) investors. So, for the “regular everyday” folks out there you have two options; MOVE to a country that lets you participate, OR wait till bitcoin (cryptos) get way WAY higher and the regulators will then allow you to jump on, all the while protecting you from “bad actors”. “Buy high, feel safe”.
The market for cryptocurrencies itself has ballooned over the past year from a humble 18.8 billion to over $300 billion now. Bitcoin alone has surged from a $15.6 billion market to a $167.7 billion market currently; rising 10 times in value (from under $1,000 a year ago, to over $10,000 currently). The digital currency market has been attracting many asset managers and hedge funds into the space, as they launch their own standalone cryptocurrency investment funds to rise with the tide.
For those who seek to gain exposure to the cryptocurrency market without investing in specific digital currencies, there are not any exchange-traded funds in the US that currently offer exclusive exposure to cryptocurrencies. However, there are these 3 US-based funds, which are currently under review by the SEC (in order of their filing):
- COIN from Winklevoss Bitcoin Trust
- XBTC from SolidX Bitcoin Trust
- GBTC from Bitcoin Investment Trust
The only ETFs that offer exposure to the space are the Ark Investment Management’s ARK Innovation ETF (ARKK) and the ARK Web x.0 ETF (ARKW), but these are far from official cryptocurrency ETFs as these funds have just about 5-6% portfolio exposure to the Bitcoin Investment Trust (GBTC)…
Full Story at Frontera.net