Over the past few months, Canadian regulators have approved four bitcoin exchange-traded funds (ETFs) and four for Ethereum.
Brazilian regulators have approved a bitcoin ETF… and another crypto ETF that includes bitcoin.
And European regulators approved bitcoin exchange-traded products (ETPs) a few years ago.
But in the U.S., it’s been crickets…
Gemini first filed for a bitcoin ETF in 2013. And from 2017–2021, numerous ETF issuers have made more filings – only to be withdrawn, rejected, or delayed.
Now, with several live ETFs trading in other countries, the SEC faces new pressure.
SEC Commissioner Hester Peirce, aka “Crypto Mom,” said her team is running out of excuses for not green-lighting a bitcoin ETF.
In a May 21 interview, she told Bloomberg:
It’s well past time that we approve an exchange-traded product in bitcoin. We have a lot more information now than we did before. I’m hopeful that because we have a new chairman [Gary Gensler] and one that’s interested in this space, we’ll have a chance to take a fresh look.
While we wait for the first bitcoin ETF in the U.S., the SEC recently approved the first ETF with “crypto” in its name.
I’ll give you the details on this new ETF in a moment. But first, let me tell you why this is an important step…
The Proliferation of the Crypto Ecosystem
In just the last four months, several high-profile legacy institutions have entered – or served notice that they’re entering – the crypto markets.
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In February, it was the Bank of New York Mellon and Deutsche Bank.
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In March, it was Goldman Sachs and Morgan Stanley.
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In April, it was U.S. Bank.
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In May, it was Citibank, UBS Group, and Wells Fargo.
The above list of financial titans manages close to $10 trillion in assets.
Undeniably, Wall Street is coming to crypto in a monstrous way. And its building out an entire crypto ecosystem to onboard millions of its clients.
But until the SEC approves an ETF tied directly to crypto assets… there aren’t many options for simple and broad exposure to this massive trend.
The main three are:
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Buying individual cryptos directly.
Daily editor Teeka Tiwari has used this approach to build what we believe is the best-performing crypto portfolio in the world. Out of 73 cryptos, 49 are winners with average returns of 2,631%. The drawback of this approach is most people don’t have the expertise to pick the right cryptos. You need a world-renowned expert like Teeka to guide you.
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Investing in crypto funds.
You have to be an accredited investor to access most private crypto funds. There are a few over-the-counter traded trusts from Bitwise, Grayscale, and Osprey. But be aware: The majority have historically traded at significant premiums/discounts to their net asset value.
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Investing in crypto-related equities.
This newest option involves publicly traded companies that provide the picks and shovels for the crypto economy. They include crypto miners… equipment manufacturers… exchanges… and asset managers. This group has exploded in size, number, and liquidity.
While we believe all three categories offer life-changing opportunities… some of you may just want one-click exposure to this massive trend.
And I’ve found a solution…
A New “Crypto” Pure-Play ETF
It’s called the Bitwise Crypto Industry Innovators ETF (BITQ). And it made history when it debuted on May 11.
Bitwise Asset Management – a crypto index juggernaut – created the ETF. It’s the first ETF approved by the SEC with “crypto” in its name.
While the ETF doesn’t invest directly in crypto, it does provide exposure to pure-play crypto companies.
BITQ is pegged to the Bitwise Crypto Innovators 30 Index. And 85% of this index’s portfolio is made up of pure plays. The other 15% includes companies with significant business interest in crypto… like PayPal and Square.
A special rule allows the ETF to quickly add crypto initial public offerings (IPOs). So when crypto unicorns like BlockFi, Gemini, and Kraken go public… BITQ can put them in its portfolio as soon as one day after their IPOs.
And while BITQ is chock-full of crypto-related companies, it has similar top-line (mostly higher) and bottom-line (matching or just below) growth numbers versus the SPDR S&P 500 ETF (SPY) and the Invesco QQQ ETF (QQQ).
Here’s a snapshot of BITQ’s top 10 holdings:
Source: www.bitqetf.com, 5/26/21
In its first three weeks, BITQ has accumulated $44 million in assets. I suspect many more millions will come.
Crypto is easily the best-performing asset class over the last 10 years. And we believe it’ll be the best-performing asset class over the next decade, too.
BITQ provides easy, one-click exposure to this massive trend. You don’t have to worry about custody, regulation, or lack of a traditional investment vehicle.
If you don’t have any crypto exposure – or want to diversify your crypto holdings – consider BITQ. Especially, with the recent crypto selloff giving us a good entry point.
Keep in mind that crypto equities – like cryptos – are volatile. So never bet more than you can afford to lose.
Regards,
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Grant Wasylik
Analyst, Palm Beach Daily
P.S. BITQ is one of the newest and easiest ways to get ahead of the explosive crypto gains we expect to see in the months and years ahead…
But if you don’t have years to wait, Teeka has found an idea he believes could help shrink your entire wealth journey from decades down to just 24 hours.
He calls this type of investing “24 hours to 24/7 Freedom.” That’s because in one specific 24-hour period, you can achieve total financial freedom.
It all has to do with a special type of investing that targets a specific type of company. One that most people will never hear about until after its explosive move. These ideas can pull forward a lifetime of financial gains in 24 hours…
On Wednesday June 9, at 8 p.m. ET, Teeka will pull back the curtain on how this approach works… And more importantly, he’ll share details on how you can get access to one of these rare “24 hours to 24/7 Freedom” investments.
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Teeka’s past free picks have an incredible average peak gain of 1,691%. So be sure to reserve your spot today.