Quote:
Originally Posted by fcgiii
An easy way to invest in cryptocurrencies is to buy shares in trusts that hold bitcoin. I keep y investments in eTrade and have bought shares in Grayscale Investment trusts. I own Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). I got into the game late with the bitcoin trust, started last November, but it has gone from $23 to $53 in 3 months. This is not for the faint of heart. Yesterday ETHE dropped 13%.
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Well, as you say it is an "easy" way to invest (would a better word be "speculate"??) in crypto, but long-term I'm not convinced it's the best way to buy crypto.
Besides the fact that I think there's a 2% annual expense fee, Fidelity and others will likely soon be offering crypto ETFs, which I think will be a much better & less expensive way to invest in a basket of cryptocurrencies.