Is This Cryptocurrency ETF a No-Brainer Buy?
If you are thinking about investing in Bitcoin (CRYPTO: BTC), the good news is that it has never been easier to do so. After the Securities and Exchange Commission (SEC) approved the new spot Bitcoin exchange-traded funds (ETFs) in January, investors now have nearly a dozen new options for buying Bitcoin.
Of these new ETFs, the one that has my attention, is the iShares Bitcoin Trust (NASDAQ: IBIT). Let's take a closer look at two key reasons you might think about adding it to your portfolio.
The iShares Bitcoin Trust from BlackRock was created with one primary investment goal in mind: To track the price of Bitcoin. Unlike other ETFs, which typically hold a diversified basket of assets, the iShares Bitcoin Trust holds just a single asset: Bitcoin. As a result, this ETF does a remarkably good job of matching Bitcoin's price. Since its launch on Jan. 11, the iShares Bitcoin Trust is up 32.44%, while Bitcoin is up 32.67%.
Source Fool.com
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