Why Bitcoin and Crypto ETFs Are Rising – January 26, 2023

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(0:45) – Is the cryptocurrency winter finally over? (5:30) – The FTX Collapse: What Will Be the Long-Term Damage? (10:50) – Breaking Down the Bitcoin Mining Industry: What’s the Profit For the Take? (17:20) – Understanding Blockchain Technology: How Can It Benefit Other Industries? (24:00) – What are the best ways to invest in the cryptocurrency industry? (33:05) – Episode Roundup: AMD, NVDA, CAMT, IMXI [email protected]

In this episode of ETF Spotlight, I speak with David Bartosiak, Zacks Stock Strategist and Editor of the Zacks Blockchain Innovators Newsletter, about cryptocurrencies and blockchain-related stocks.

The price of bitcoin crashed around 65% in the last year and crypto-related ETFs slumped as investors dumped risky assets due to changes in the macro environment. The Viridi Bitcoin Miners ETF (RIGZ) lost 87% and was the worst performing ETF of 2022.

Crypto stocks have rebounded strongly as Bitcoin jumped around 40% this year. Crypto-related ETFs have been the top performers among equity ETFs year-to-date.

Valkyrie Bitcoin Miners ETF (WGMI Quick QuoteWGMI – Free Report) is up almost 100%, thanks to soaring stocks like

Bitfarms (BITF Quick QuoteBITF – Free Report) and Argo Blockchain (ARBK Quick QuoteARBK – Free Report). NVIDIA (NVDA Quick QuoteNVDA – Free Report) and Advanced Micro Devices (AMD Quick QuoteAMD – Free Report) are also among WGMI’s holdings.

The ProShares Bitcoin Strategy ETF (BITO Quick QuoteBITO – Free Report) and Short Bitcoin Strategy ETF (BITI Quick QuoteBITI – Free Report) offer long and short exposure to bitcoin-related returns using futures contracts that trade on exchanges regulated.

Blockchain technology has the potential to revolutionize many industries as it provides a secure way to record and verify transactions. The Amplify Transformational Data Sharing ETF (BLOK Quick QuoteBLOK – Free Report) invests in companies involved in the development or use of blockchain technologies.

Dave also likes Camtek (CAMT Quick QuoteCAMT – Free Report) and International Money Express (IMXI Quick QuoteIMXI – Free Report), which he owns in the Blockchain Innovators Wallet.

Tune in to the podcast to learn more.

Be sure to be on the lookout for the next edition of ETF Spotlight and don’t forget to subscribe! If you have any comments or questions, please email [email protected].

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