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2 Cryptocurrency ETFs to Consider as the SEC Approves the First Bitcoin ETF -Breaking

by Mike Robinson

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© Reuters. There are 2 cryptocurrency ETFs you should consider after the SEC approves the First Bitcoin Exchange Trade Fund

ProShares Strategy ETF was approved by the SEC and has since fueled a surge in cryptocurrencies. Therefore, we think investors looking to capitalize on the bullish crypto market in a relatively less risky way could bet on cryptocurrency ETFs Amplify Transformational Data Sharing ETF (BLOK) and First Trust Indxx Innovative Transaction & Process ETF (LEGR). So, let’s examine these funds.The U.S. Securities and Exchange Commission’s (SEC) approval of the first U.S. bitcoin-linked ETF, The ProShares Bitcoin Strategy ETF (BITO), on October 19 is a milestone for cryptocurrencies. It could dramatically increase the investment flow into digital currencies. BITO’s first day of trading saw a turnover of almost $1 billion.

Furthermore, bitcoin hit an all-time high yesterday, crossing$66,000 following BITCO’s approval. And cryptocurrencies could keep soaring as several countries legalize bitcoin, and investors’ interest in the high-flying digital currencies continues to grow.

While it’s challenging to select the best cryptocurrency, we think investors looking to capitalize on the industry tailwinds in a less risky way could bet on quality cryptocurrency ETFs Amplify Transformational Data Sharing ETF (BLOK) and First Trust Indxx Innovative Transaction & Process ETF (LEGR) to cash in on the favorable crypto trends.

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