2 Canadian ETFs That Can Give You Exposure to Cryptocurrencies

If you’re bullish on cryptocurrency and looking to gain exposure to the industry through one of the many crypto ETFs, here are two of the best to buy.

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After the last two years, we’ve seen several institutional investors and companies gaining exposure to cryptocurrencies or looking for ways blockchain can grow their businesses. This no doubt goes to show that there has been a significant revolution lately, and the industry has a great deal of long-term potential. Even now, there are several investment vehicles that offer exposure to cryptocurrencies, including ETFs.

So it makes sense for investors to want to look to gain exposure to the industry. However, it’s understandably risky, in large part due to all the volatility and speculation. In addition, it can also be risky because of how early it is. There are more than 17,000 tokens and coins that exist, and undoubtedly most of those will be worthless in a few years’ time.

So while there is lots of opportunity investing this early, the nature of that potential also means there’s a lot of risk. But with some of the best potential lying with large well-known cryptocurrencies, plus the fact that it’s incredibly easy to gain exposure to the industry in 2022, you may want to consider these ETFs that offer exposure to cryptocurrencies that you can commit to for the long haul.

A top Bitcoin ETF

There are several ways you can gain exposure to the industry, buying blockchain stocks, cryptocurrency exchanges or even crypto miners. But one of the best ways, especially to hold long-term, is to gain exposure to a top cryptocurrency. And with the launch of cryptocurrency ETFs in recent years, now you can do so easily and in registered accounts.

So if you’re bullish on crypto, you may want to consider an investment such as the CI Galaxy Bitcoin ETF (TSX:BTCX.B). The ETF buys and safely stores the Bitcoin for you, making it a simple and cost-effective way to invest in the most valuable cryptocurrency.

There are a number of advantages to buying Bitcoin this way, so for most investors, who aren’t interested in creating a wallet and buying the Bitcoin themselves, this will be the best investment to buy.

And in addition to a Bitcoin ETF, there is also another fund for the second most valuable cryptocurrency and possibly the one with the most growth potential.

Another excellent cryptocurrency ETF to buy now

Ethereum is another highly popular high-potential cryptocurrency just like Bitcoin. So if you’re looking to add crypto ETFs to your portfolio, the CI Galaxy Ethereum ETF (TSX:ETHX.B) is another one of the best to consider.

There’s no reason you can’t have exposure to both if you’re bullish in cryptocurrency, but if I had to choose one, Ethereum offers more potential. Plus, the ETF is very similar to the Bitcoin ETF and offers all the same advantages, including the ability to buy it in a registered account like the TFSA. So it’s another high-quality cryptocurrency ETF to consider buying today.

Bottom line

The crypto industry is full of potential, making these investments ideal, especially for investors with years of time to wait for the massive growth.

As I mentioned above, with the industry being so early but also so full of potential, there are constantly new investment vehicles being launched. So, in addition to these well-established ETFs, several new funds have launched in recent months.

For example, there are now covered-call ETFs that allow you to own cryptocurrency and generate a significant yield at the same time. In addition, with all the hype around the metaverse, there has been an ETF launched to give investors exposure to those stocks.

So right now, as the entire cryptocurrency industry has been selling off and many of these ETFs and stocks trade cheap, it’s certainly one of the best times in recent months to be buying.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Daniel Da Costa owns Bitcoin and Ethereum. The Motley Fool owns and recommends Bitcoin and Ethereum.

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