With Bitcoin At $60K, Consider These Crypto Stocks

With Bitcoin At $60K, Consider These Crypto Stocks

Bitcoin prices have rallied by almost 25% over the last month, trading at about $59, 600 as of late Thursday. The bellwether crypto has rallied from lows of under $30, 000 in July. There are likely a couple of factors driving the recent gains. Firstly, there has been some anticipation that a Bitcoin futures ETF could be approved by the U. S. Securities and Exchange Commission shortly. Moreover, the chairman of the Federal Reserve clarified that he has no intention to ban cryptocurrencies in the U. S, easing concerns in the market following China's recent crackdown on cryptocurrency. However, despite the recent rally, Bitcoin and other cryptocurrency assets have proved very volatile. Investors looking to play the long-term upside in cryptocurrency adoption, without exposing themselves to the big swings in the crypto market, should take a look at our indicative theme on Cryptocurrency Stocks which includes semiconductors, payments, and brokerage companies that have exposure to the cryptocurrency value chain. The theme has gained a solid 30% year-to-date, compared to the S&P 500 which is up by about 18% over the same period. The theme has also been less volatile, with maximum drawdowns over the three years standing at just about