A good and very important question that I saw popping up in an investor e-mail was the following:
“Is there somewhere I could buy a basket of cryptos, or a mutual fund type of thing with a few quality cryptos that would not be difficult to do and that would be safe?”
Not now, but probably very soon! Several exchange-traded funds (ETFs) that will buy cryptocurrencies are now waiting for official approval.
As soon as they’re released to the public, three things will happen:
First, you’ll get an easy-to-buy fund which owns the best cryptos.
Second, billions of dollars will rush into these ETFs as they tap into pent-up demand from investors like Jackie. (The same thing happened when the first gold ETFs were launched years ago.)
And third, all this new money could drive cryptocurrency values through the roof.
So the best time to buy is precisely when it’s NOT so convenient for newcomers; before these new ETFs come to market!
Do you agree? Or would you prefer to wait until there’s a cryptocurrency ETF available? What are the important pros and cons of each approach?
What do you think?
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