Why Bitcoin & Crypto ETFs are Surging
- (0:45) - Is The Cryptocurrency Winter Finally Over?
- (5:30) - The Collapse of FTX: What Will Be The Long Term Damage?
- (10:50) - Breaking Down The Bitcoin Mining Industry: How Much Profit Is There For The Taking?
- (17:20) - Understanding Blockchain Technology: How Can This Benefit Other Industries?
- (24:00) - What Are The Best Ways To Invest Into The Cryptocurrency Industry?
- (33:05) - Episode Roundup: AMD, NVDA, CAMT, IMXI
- Podcast@Zacks.com
In this episode of ETF Spotlight, I speak with David Bartosiak, Zacks Stock Strategist and the Editor of Zacks Blockchain Innovators newsletter, about cryptocurrencies and blockchain related stocks.
Bitcoin price crashed about 65% last year and crypto linked ETFs had cratered as investors dumped risky assets due to changes in the macroeconomic environment. The Viridi Bitcoin Miners ETF (RIGZ) lost 87% and was the worst performing ETF of 2022.
Crypto stocks have rebounded strongly as Bitcoin has jumped about 40% this year. Crypto related ETFs are the best performing products among equity ETFs year-to-date.
The Valkyrie Bitcoin Miners ETF WGMI is up almost 100%, thanks to surge in stocks like
Bitfarms BITF and Argo Blockchain ARBK. NVIDIA NVDA and Advanced Micro Devices AMD are also among WGMI’s holdings.
The ProShares Bitcoin Strategy ETF BITO and Short Bitcoin Strategy ETF BITI provide long and short exposures to bitcoin-linked returns using futures that trade on regulated exchanges.
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 invests in companies that are involved in developing or using blockchain technologies.
Dave also likes Camtek CAMT and International Money Express IMXI, which he owns in the Blockchain Innovators portfolio.
Tune in to the podcast to learn more.
Make sure to be on the lookout for the next edition of the ETF Spotlight and remember to subscribe! If you have any comments or questions, please email podcast@zacks.com.
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Get it free >>Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Camtek Ltd. (CAMT) : Free Stock Analysis Report
ProShares Short Bitcoin Strategy ETF (BITI): ETF Research Reports
Amplify Transformational Data Sharing ETF (BLOK): ETF Research Reports
INTERNATIONAL MONEY EXPRESS, INC. (IMXI) : Free Stock Analysis Report
Bitfarms Ltd. (BITF) : Free Stock Analysis Report
Argo Blockchain PLC Sponsored ADR (ARBK) : Free Stock Analysis Report
ProShares Bitcoin Strategy ETF (BITO): ETF Research Reports
Valkyrie Bitcoin Miners ETF (WGMI): ETF Research Reports
