Investor and best-selling personal finance author Ric Edelman thinks the rollout gives investors more access to upside. He finds buffer ETFs and yield ETFs particularly exciting.
Bitcoin hit a 2024 high on Thursday, crossing the $100,000 mark for the first time since February. The cryptocurrency is now up nearly 10% so far this month.
It's been a busy week for crypto investors, as new exchange-traded funds are hitting the market. Investor and best-selling personal finance author Ric Edelman thinks the rollout gives investors more access to upside.
"You can now invest in bitcoin ETFs that protect you against the downside volatility while preserving your ability to enjoy the upside profits," Edelman said. "You can generate massive amounts of yield, much more than you can in the stock market."
Edelman is the founder of the Digital Assets Council of Financial Professionals, which educates financial advisors on cryptocurrencies. He is also in Barron's Financial Advisor Hall of Fame.
"Crypto is meant to be a long-term hold, just like the stock market," Edelman said. "It's meant to diversify the portfolio."
His thoughts came as a bitcoin rally got underway.
The cryptocurrency is up 6% this week, as of Friday's close on Wall Street. It crossed $100,000 on Thursday for the first time since February.
However, Edelman sees problems when it comes to leverage and inverse bitcoin ETFs. He warned that not all crypto ETFs are appropriate for retail investors, suggesting most don't understand how they work.
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