JPMorgan highlighted the 9 stocks with the highest correlations with Bitcoin and Ethereum. The absence of a Spot Bitcoin ETF means that some investors are looking for other ways to invest in cryptocurrencies. Investors can buy stocks with exposure to the crypto sector through mining and direct holding. cryptocoin.com We look at the details.
Stocks sensitive to Bitcoin and Ethereum
US investors have little choice when it comes to investing in cryptocurrency tokens like Bitcoin and ETH other than buying outright. According to JPMorgan, there is a way for investors to easily invest in cryptocurrencies without buying them directly, and that is through individual stocks. “Companies listed like this have become increasingly popular vehicles for investors to invest in the crypto industry,” JPMorgan said in a note last week. According to JPMorgan, these are the 9 stocks with the highest correlation to Bitcoin and Ether:
9. Bit Minin (BTCM): 3-month correlation with Bitcoin: 57.5%. 3-month Ether correlation: 54.1%.
8. Galaxy Digital (GLXY): 3-month correlation with BTC: 52.7%. 3-month Ether correlation: 60.6%.
7. Marathon Digital (MARA): 3-month correlation with BTC: 61.8%. 3-month Ether correlation: 53.4%.
6. Hut 8 Mining (HUT): 3-month correlation with BTC: 61.5%. 3-month Ether correlation: 58.2%.
5. Riot Blockchain (RIOT): 3-month correlation with Bitcoin: 65.3%. 3-month Ether correlation: 58.7%.
4. Hive Blockchain (HIVE): 3-month correlation with BTC: 63.3%. 3-month Ether correlation: 65.4%.
3. Coinbase (COIN): 3-month correlation with BTC: 64.6%. 3-month Ether correlation: 55.3%.
2. Bitfarms (BITF): 3-month correlation with BTC: 70.8%. 3-month Effect correlation: 68.5%.
1. Microstrategy (MSTR): 3-month correlation with BTC: 75.8%. 3-month Ether correlation: 73.6%.
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