News
The 4 best cryptocurrency ETFs to buy in 2024
Cryptocurrency ETFs are dominating the industry space following renewed inflows into these funds from traditional financial investors. Crypto ETFs serve as an investment window into the underlying assets as some traders may not want direct exposure.
In each case, investors are exposed to the price of the underlying asset which leads to a new participant base. Cryptocurrency ETFs, especially Bitcoin products, have sparked a frenzy and dominated the industry spaces after approval by the US Securities and Exchange Commission (SEC). Recently, spot cryptocurrency ETFs have been trending as major banks and institutions have disclosed their exposure. Here are the best crypto ETFs this year.
Grayscale Bitcoin Trust ETF (GBTC)
The company fought a long battle with the SEC and achieved a historic victory that many believe led to the approval of spot Bitcoin ETFs. Grayscale was converted from a trust to an open-ended ETF and has had a shaky start this year. Investors sold to invest in new competitors with cheaper fees. The fund boasts $19 billion in assets under management (AUM).
VanEck Ethereum Strategy ETF (EFUT)
Recently, this product has seen inflows as it allows investors to track the price of Ethereum (ETH). Ethereum is the second largest crypto asset and has sparked bullish sentiment with companies anticipating the spot Ethereum ETF approvals. This product currently has $29 million in assets under management.
Bitwise Bitcoin ETF (BITB)
Bit by bit remains one of the big players in the ETF market with inflows reaching $2.1 billion. The fund is believed to be the first issuer to reveal its public portfolio address among other developments. With AUM of 33,977 BTC, the cryptocurrency ETF is set to grow.
iShares Bitcoin Trust (IBIT)
Black rock dominates crypto ETF narratives this year with his project. The asset management giant led the frenzy by applying for spot Bitcoin ETFs, a move that saw other firms make a similar request. IBIT now has $17.2 billion in assets under management, making it a leading product in the market.
Others include ProShares Ultra Bitcoin ETF, VanEck Digital Transformation ETF, Global C Bitcoin ETF, etc.
Read also: How much will the price of PEPE coins rise in May 2024?
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in learning about emerging technologies and has an eye for the latest news. Staying up to date on trends, David has reported in several niches including regulation, partnerships, cryptocurrencies, stocks, NFTs, etc. Away from the financial markets, David cycles and rides horses.