Following this, a number of fund providers released products that also cater to bitcoin, giving investors access to the digital currency space.
Bitcoin’s price reached an all-time high in a bullish October, dubbed “Uptober” by crypto pundits.
A spot price bitcoin ETF would open up the market to traditional finance investors who are still hesitant to invest directly into the crypto market.
One way to get indirect access to the Grayscale Bitcoin Trust is via ETFs that hold the fund, such as the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF .
The index is comprised of stocks of companies that are materially engaged in the development of blockchain technology, cryptocurrency mining, cryptocurrency buying, or enabling technologies, exchange traded products , and private investment trusts traded over-the-counter that are linked to cryptocurrencies.
Looking under the hood, 15% of its allocation goes to the Grayscale Bitcoin Trust, giving investors indirect exposure to the leading cryptocurrency, bitcoin.