- Without an approved
bitcoin ETF, it can be difficult for some investors to gain exposure to the cryptocurrency. - One way to gain exposure to bitcoin is to invest in companies that either own bitcoin directly or have exposure to the space.
- Detailed below are the eight top stocks investors can buy to gain exposure to bitcoin, according to Fundstrat.
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Investors seeking exposure to bitcoin have few options other than directly buying it, as a bitcoin ETF has yet to be approved in the US.
And US approval of a bitcoin ETF might not come until 2023, according to a fund provider that already went through the application process.
With bitcoin surging more than 53% from its low of about $30,000 last month, investors are likely seeking another way to gain exposure to bitcoin without directly buying the cryptocurrency on exchange platforms like Coinbase.
Besides high-fee trusts and exchange traded notes that often trade on the over-the-counter
These are the 8 stocks investors can buy to gain exposure to bitcoin, according to a Monday note from Fundstrat.
1. Silvergate
Ticker: SI
Market Cap: $2.9 billion
Estimated Beta to Bitcoin: 5x to 10x
2. Mogo
Ticker: MOGO
Market Cap: $454.9 million
Estimated Beta to Bitcoin: 2x to 3x
3. Coinbase
Ticker: COIN
Market Cap: $53.3 billion
Estimated Beta to Bitcoin: 2x to 3x
4. Voyager
Ticker: VYGVF
Market Cap: $2.5 billion
Estimated Beta to Bitcoin: 2x to 3x
5. Riot Blockchain
Ticker: RIOT
Market Cap: $2.8 billion
Estimated Beta to Bitcoin: 2x to 3x
6. MicroStrategy
Ticker: MSTR
Market Cap: 7.0 billion
Estimated Beta to Bitcoin: 1x
7. PayPal
Ticker: PYPL
Market Cap: $329.8 billion
Estimated Beta to Bitcoin: 0.5x
8. Square
Ticker: SQ
Market Cap: $129.5 billion
Estimated Beta to Bitcoin: 0.5x