Three cryptocurrency funds to purchase offer exposure to stocks that should rise along with the sector, Ethereum and Bitcoin.
Investors interested in the three cryptocurrency funds to purchase would be buying while such equities on the uptrend. Critics of cryptocurrencies question their value but the ascent of those alternatives to sovereign currencies has been significant.
“Cryptocurrencies have been moving higher all week, particularly alt coins,” wrote Mark Skousen, PhD, an economist who is a presidential fellow at Chapman University, the leader of the Forecasts & Strategies investment newsletter and the TNT Trader advisory service that recommends both stocks and options that include cryptocurrency investments. “While Bitcoin has settled in around $96,000 for now, Ethereum saw a big gain, up almost 10% in a week.”
Mark Skousen, head of TNT Trader and scion of Ben Franklin, talks to Paul Dykewicz.
Three Cryptocurrency Funds to Purchase: Amplify Transformational Data Sharing ETF
The Forecasts & Strategies investment newsletter and the TNT Trader advisory service both own cryptocurrency stocks through Amplify Transformational Data Sharing ETF (NYSE: BLOK), an exchange-traded fund (ETF) that invests in companies involved in the development and use of blockchain technology. The ETF also is comprised of companies that partner with and/or directly invest in blockchain technology.
BLOK further invests in companies that act as members of multiple consortiums dedicated to the particular technology. The ETF has soared more than 30% since the TNT Trader advisory service bean to recommend BLOK just a few months ago.
Subscribers to the TNT Trader advisory service were advised to buy call options recommended by Skousen that produced average returns of more than 120% in the same period. Skousen still has his subscribers holding the last quarter of those BLOK call options in an attempt to notch even higher profits. The BLOK ETF’s top three holding and their weightings are Core Scientific (NASDAQ: CORZ), 5.04%; Galaxy Digital Holdings (XTSE: GLXY), 4.65%; and Coinbase Global Inc. (NASDAQ: COIN), 4.64%.
Chart courtesy of www.stockcharts.com
Three Cryptocurrency Funds to Purchase: ETHE
Grayscale Ethereum Trust ETF (OTCM: ETHE) has traded up on the week along with the rest of the cryptocurrency space, wrote Bryan Perry, a seasoned Wall Street denizen, who leads the Hi-Tech Trader advisory service that recommends both equities and call options. Hi-Tech Trader‘s cost basis is $27.67, while the ETF has jumped 9% to $30.36 since its recommendation on Nov. 22. There looks to be further near-term upside for the week ahead, Perry opined.
Bryan Perry, head of Cash Machine and Hi-Tech Trader, recommends cryptocurrencies.
Due to rising demand for trades in the cryptocurrency sector, Hi-Tech Trader recently launched a Cryptocurrency Coins, Funds & Futures Portfolio that will include cryptocurrencies traded on specialized exchanges such as Coinbase, as well as crypto spot price exchange-traded funds (ETF) that trade on the NYSE and NASDAQ. There is widespread interest in some of the alternative coins that are growing assets under management (AUM) by billions of dollars, even some by tens of billions of dollars, Perry continued.
“This past week saw Bitcoin challenge $100,000 for the second time, with other cryptocurrencies showing bullish price action,” Perry said.
Chart courtesy of www.stockcharts.com
Three Cryptocurrency Funds to Purchase: BITO
A third investment that has been doing well among cryptocurrency funds is ProShares Bitcoin Strategy ETF (ARCX: BITO). In fact, the Crypto & Commodities Trader is a new advisory service headed by Jim Woods, who recommends both stocks and options.
Woods, who also leads the Successful Investing advisory service, currently recommends ProShares Bitcoin Strategy ETF in that publication. BITO rocketed 137.33% in 2023, after dropping 63.91% in 2022, according to Morningstar. The fund also has jumped 112.07% so far this year.
Paul Dykewicz meets with Jim Woods, head of Successful Investing.
BITO could appeal to income investors due to its hefty dividend yield that currently touches 46.66%. Investors who worry about potential losses and volatility from cryptocurrency investing may prefer BITO due to its dividend payouts, as well as its potential capital appreciation gains.
Chart courtesy of www.stockcharts.com
Three Cryptocurrency Funds to Purchase: Geopolitical Risk
Investors also need to be mindful of geopolitical risk, especially when wars are raging in parts of the world. With Russia continuing its invasion in neighboring Ukraine, military action in the Middle East and other hot spots in the world, equities remain at risk.
Nonetheless, the three cryptocurrency funds to purchase are available at a time when they are on the ascent. Investors who have been tempted to invest in cryptocurrencies, but are wary about incurring risk and volatility, may prefer to do so through ETFs that offer some diversification.
Paul Dykewicz, www.pauldykewicz.com, is an award-winning journalist who has written for Dow Jones, the Wall Street Journal, Investor’s Business Daily, USA Today, the Journal of Commerce, Crain Communications, Seeking Alpha, Guru Focus and other publications and websites. Paul can be followed on Twitter @PaulDykewicz, and is the editor and a columnist at StockInvestor.com and DividendInvestor.com. He also serves as editorial director of Eagle Financial Publications in Washington, D.C. In that role, he edits monthly investment newsletters, time-sensitive trading alerts, free weekly e-letters and other reports. Previously, Paul served as business editor and a columnist at Baltimore’s Daily Record newspaper and as a reporter at the Baltimore Business Journal. Plus, Paul is the author of an inspirational book, “Holy Smokes! Golden Guidance from Notre Dame’s Championship Chaplain,” with a foreword by former national championship-winning football coach Lou Holtz. The uplifting book is endorsed by Joe Montana, Joe Theismann, Ara Parseghian, “Rocket” Ismail, Reggie Brooks, Dick Vitale and many other sports figures. To buy signed and specially dedicated copies, call 202-677-4457.
