From NASDAQ:

The hype around the first spot Bitcoin exchange-traded funds (ETFs) has cooled, with the Bitcoin fear index dropping to 63 from a previous rating of 76. Some investors have taken cover as the currency tests its $42,000 support level following the U.S. Securities and Exchange Commission’s (SEC) approval.

The SEC’s approval is believed to be positive long-term for Bitcoin’s price, but more defensive positions may need to be taken by cautious investors. These positions can be achieved by investing in some of the best Bitcoin ETFs that offer indirect exposure to the cryptocurrency market.

The Siren Nasdaq NexGen Economy ETF (BLCN) is one of the best Bitcoin ETFs for nervous investors, providing indirect exposure to the cryptocurrency market by focusing investments in companies involved in blockchain technology. Its AUM represent a broad spectrum of industries from technology to communications, making it a diversified hedge.

For investors who prefer to invest in the picks and shovels of the blockchain industry and shelter from some of the market’s volatility, BLCN could be a valid choice with fair pricing and a reasonable expense ratio.

The Global X Blockchain & Bitcoin Strategy ETF (BITS) offers a blended mix of investing in Bitcoin futures and shares of blockchain development and infrastructure companies. While it follows a close correlation with Bitcoin, there is a stronger correlation between indices like the Nasdaq than the crypto market. BITS has a 44.22% exposure to another ETF named Global X Blockchain ETF (BKCH).

The CI Galaxy Bitcoin ETF (CGBCF:PNK) is a valid option for investors since it holds all of its Bitcoin in segregated cold storage, making it significantly more difficult for customer’s funds to go missing amid a hack or cyber attack. The management fee of 0.4% is also competitive with many of the leading blockchain ETFs on the market.



Read more: The 3 Best Bitcoin ETFs for Nervous Crypto Investors