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Bitcoin Investors may already be venturing into ETFs



Even though there is no specific US-based Bitcoin ETF, huge chunks of money are channeled to blockchain and crypto industries in general.

There are many US ETFs that are buying shares into big crypto firms. From data from ETF.com, it is clear that many ETFs have invested in public listing companies that are currently holding Bitcoin in their balance sheets. There are about 222 ETFs in Tesla, 144 ETFs in Square, and 88 ETFs in MicroStrategy from the site. In addition to that, there are about sixteen ETFs into Bitcoin mining stocks.

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Blackrock has a significant amount of ETFs, with about 200 of them, which recently got a profit of $360,457.

The big shark

There are about nine ETFs that have exposure to BTC, as indicated on their balance sheets.

The ETF with the highest share is Amplify Transformational Data Sharing ETF (BLOK), with the biggest crypto exposure. Its ten allocations have seven in top crypto firms such as Galaxy Digital, Voyager Digital, Marathon Digital, Hut 8 Mining, Hive Blockchain, Argo Blockchain, and Riot Blockchain. Even though these stocks look many, they are just a third of BLOK’s capital.

BLOK positions itself as fueling transformational data sharing, and that has made it get a lot of traction as data is a huge need in the market. So far, it is one of the top-performing ETFs of 2021 and has gained 71.7% from January. This gives it the eighth position among all ETFs. When you compare it to other ETFs, it is the largest hodler of MicroStrategy and Marathon’s stock.

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From other ETFs, the other crypto-exposed ETF that is performing well is the Nasdaq NexGen Economy ETF (BLCN), according to YTD performance when we exclude inverse and leveraged funds. It also has its investment in MicroStrategy, Marathon, and Square at $5.4 million, $5.63 million, and $5.24 million, respectively.

Large ETF Holders

When we compare in terms of the total value of assets, the rankings completely change. Vanguard Total Stock Market ETF (VTI) has the highest number of assets allocated to crypto firms. The VTI ETF is in the top companies, which accounts for $2.77 billion worth of Tesla, $478 million of Square, $29.4 million of MicroStrategy, and $11.38 million of Riot Blockchain. In addition to that, VTI has shares in Blackwater worth $516 million.

The second-largest ETF is the iShares Core S&P Total U.S. Stock Market ETF (ITOT) which has shares in Tesla worth $450 million, MicroStrategy worth $4.4 million, Marathon worth $3.86 million, and Riot worth $3.12 million.

There are still seven Bitcoin ETFs that have applied with SEC, which is yet to be approved. Bitcoin ETF is gaining traction in markets, and since its onset in the Toronto Stock Exchange, it has gained about $1 billion worth BTC in two months.

Image by GotCredit from Flickr.



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