Is a Bitcoin ETF Coming? These 3 Stocks Could Benefit From It.
A big catalyst could soon be coming for crypto investors. The Grayscale Bitcoin Trust (OTC: GBTC) could become the first exchange-traded fund that gives investors exposure to Bitcoin. This comes after a judge recently sided with Grayscale in its lawsuit against the Securities and Exchange Commission, which blocked the company's attempt to convert the Grayscale Bitcoin Trust into an ETF.
The ETF could attract many new crypto investors and lead not only to a surge in the value of cryptocurrencies but also more trading activity. That can be great news for Block (NYSE: SQ), PayPal Holdings (NASDAQ: PYPL), and Coinbase Global (NASDAQ: COIN). Here's why they can benefit from this development.
Block is a financial services company that makes it easy for vendors to process payments through its point-of-sale terminals. Through its Cash App, the company also makes it easy for people to buy, sell, and send Bitcoin. It's such a big part of Block's business that it now generates the most revenue for the company.
Source Fool.com
