7 Best Cryptocurrency ETFs to Buy

7 Best Cryptocurrency ETFs to Buy These crypto ETFs are worth a look.

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ProShares Bitcoin Strategy ETF (ticker: BITO) The cryptocurrency market has a substantial secondary derivatives market. Traders often use derivatives like futures to speculate or hedge risk. A great example here is BITO, which uses Bitcoin futures contracts to mimic the spot price of Bitcoin.

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Grayscale Bitcoin Trust (GBTC) As noted earlier, GBTC is not technically an ETF. However, the fund trades on exchanges and can be easily purchased via most brokerages. The fund does track the spot price of Bitcoin, meaning that it holds actual cryptocurrency in offline wallets with a custodian, called "cold storage." Currently, the ETF has $12 billion in assets under management, or AUM.

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Global X Blockchain ETF (BKCH) Global X is a well-known provider of thematic ETFs. One of its most interesting funds tracks 24 blockchain-themed companies involved in the mining, development, promotion and advancement of cryptocurrency technology. Notable holdings include Riot Blockchain Inc. (RIOT) and Coinbase Global Inc. (COIN).

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Global X Blockchain & Bitcoin Strategy ETF (BITS) Global X's other cryptocurrency ETF, BITS, holds BKCH as 50% of its underlying holdings. Then, the ETF puts its remaining 50% in cash collateral for a variety of Bitcoin futures contracts, similar to what BITO does.

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Purpose Bitcoin ETF (BTCC.U) The U.S. ETF market usually leads the way in innovation, but for cryptocurrency ETFs the Canadian market has pulled ahead. Securities regulators in Canada have approved spot cryptocurrency ETFs since February 2021, with BTCC.

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CI Galaxy Ethereum ETF (ETHX.U) Cryptocurrency ETFs don't just have to track Bitcoin. While smaller "altcoins" might be inaccessible for the time being, the second-largest cryptocurrency by market cap, Ethereum, is also an option.

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Purpose Bitcoin Yield ETF (BTCY.U) Bitcoin is highly volatile, with intraday or overnight swings of 10% or more not uncommon. A great way to harvest this volatility and convert it into high-yield income is via a covered call ETF like BTCY.U. BTCY.U holds a portfolio of Bitcoin, and then sells an option called a covered call on its holdings.

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7 of the best cryptocurrency ETFs to buy: ProShares Bitcoin Strategy ETF (BITO) Grayscale Bitcoin Trust (GBTC) Global X Blockchain ETF (BKCH) Global X Blockchain & Bitcoin Strategy ETF (BITS) Purpose Bitcoin ETF (BTCC.U) CI Galaxy Ethereum ETF (ETHX.U) Purpose Bitcoin Yield ETF (BTCY.U)

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