The cryptocurrency boom is unstoppable.
With retail and institutional interest on the rise, and a new IPO from Coinbase the global cryptocurrency market just hit a market cap of $2.24 trillion. Bitcoin is now up to $64,420. Ethereum is up to $2,738. XRP is up to S$1.78. Polkadot is up to $41.75. Mining stocks are following.
Helping, Coinbase will start trading today.
According to Blomberg, “The NASDAQ set a reference price of $250 for the direct listing.” If that’s the case, it would give the company a valuation of nearly $50 billion.
However, if the miners, cryptocurrencies, or red hot Coinbase IPO isn’t for you, take a look at the VanEck Vectors Digital Transformation ETF (DAPP), which will offer investors exposure to blockchain infrastructure.
“The digitalization of the global economy has been picking up steam for the past several years, and as digital assets1 mature, this has driven the growth of several innovative companies—not only miners of digital assets, but also digital asset exchanges, payments, services, storage, e-commerce and much more,” said Ed Lopez, Managing Director, Head of ETF Product for VanEck.
“To this point, however, investors have had to choose among funds that too often included companies only tangentially involved with digital assets. That is something we’ve sought to solve with the launch of DAPP, a fund we’re very excited to be bringing to market.”
Some of the ETF’s top holdings include Galaxy Digital (GLXY), Square Inc. (SQ), Marathon Digital Holdings (MARA), Riot Blockchain (RIOT), Voyager Digital (VYGR), and Paypal (PYPL).
Not only does the ETF offer diversification, it does so at less cost of buying each stock individually. DAPP last traded at $37.45.
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