Crypto exchange-traded fund (ETF) stocks continue to dominate headlines after the Securities and Exchanges Commission (SEC) in the United States gave the green light in October. The news sent crypto ETF stocks climbing, and not just in the U.S. In fact, Canada already had several crypto ETF stocks that flew higher, with months if not more behind them of solid growth.
So today I’m going to look at three Canadian crypto ETF stocks I would consider before the New Year. Why before 2022? Bitcoin and other cryptocurrencies continue to climb higher. While it can be great if you can buy up a stock on a drop, if you’re a long-term holder it shouldn’t matter. As long as you have done your research and believe that cryptocurrency has a long, stable future over the next few decades, it’s always a good time to buy.
That being said, I wouldn’t want to wait much longer. There could be a massive rise in crypto ETF stocks with the holidays coming. More and more companies continue to add cryptocurrencies to their approved payment platforms. The more companies that come in, the higher the numbers will get. So I would consider these three right now, for the right price.
Purpose Bitcoin ETF
One of the first crypto ETF stocks to come on the scene was Purpose Bitcoin ETF (TSX:BTCC.B). It’s the perfect choice for those who want to invest in Bitcoin, but for a fraction of the price. Purpose uses its funds from investments to invest completely in Bitcoin. So as long as Bitcoin does well, Purpose will do well right alongside it.
And that’s what’s happened this last year. While shares continue to trade around where they were back when they came on the market, those shares also improved significantly after the drop in crypto during the summer. But now that crypto ETF stocks are on the U.S. market, Purpose has strong staying power.
Right now you can pick up Purpose for just $10.78 compared to the $70,000 and more for Bitcoin.
Blockchain Technologies ETF
If you want to invest in cryptocurrency but don’t know where to begin, then how about investing in what keeps crypto ETF stocks running? That would be blockchain, and therefore makes Blockchain Technologies ETF (TSX:HBLK) a perfect choice. The company holds a slew of blockchain technology companies in its ETF, both on the large-scale enterprise and stand-alone level.
Blockchain companies tend to be a bit cheaper than Blockchain ETF; however, it comes with more risk. Meanwhile, among crypto ETF stocks, this one is a winner thanks to the diversification Motley Fool investors get. This has led to stable growth, especially as the company continues to bring on more companies to its portfolio. The company recently announced its one of Canada’s best-performing blockchain ETFs thanks to the growth in cryptocurrency.
You can pick up Blockchain ETF for $27.50 as of writing, with shares up 45% year to date.
Evolve Cryptocurrencies ETF
Finally, if you want to invest in cryptocurrency directly but don’t know where to begin, then Evolve Cryptocurrencies ETF (TSX:ETC) is where I’d look. The company invests in several cryptocurrencies, allowing Motley Fool investors to take advantage of crypto ETF stocks in general, rather than just Bitcoin or Ethereum, for example.
The only thing with Evolve is that this particular ETF is pretty much brand new. It came on the market in September this year, just as crypto ETF stocks started to hear news of the SEC decision. Since then, the company’s shares continue to trade closely with Bitcoin and other cryptocurrency prices. So this is a great time to get in on the action before this and other crypto ETF stocks take off.
Motley Fool investors can pick up Evolve for $13.57 as of writing, up 22% since coming on the market in September.