3 Bitcoin ETFs to Give Investors A Taste of the Hot Crypto
- Date: 06-Nov-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
3 Bitcoin ETFs to Give Investors A Taste of the Hot Crypto
Bitcoin (CCC:BTC-USD) saw new all-time highs in October, surging more than 24% over the past month. The world’s most valuable cryptocurrency boasts a market capitalization exceeding $1.15 trillion. Now, Bitcoin is hovering above $61,000, up almost 108% year-to-date (YTD). By comparison, the S&P 500 gained 24.4%, and NASDAQ Composite returned 23.4% so far this year.
Recent metrics indicate that the global cryptocurrency market was “valued at USD 1.49 billion in 2020 and is projected to reach USD 4.94 billion by 2030, growing at a CAGR of 12.8% from 2021 to 2030.”
Meanwhile, there has been growing demand for Bitcoin exchange-traded funds (ETFs). In fact, crypto fans prefer a product that holds Bitcoins, similar to the SPDR Gold Shares ETF (NYSEARCA:GLD) that holds physical gold.
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