I have always felt that crypto currencies are purely speculative. But at least they can be used in some transactions if both counterparties agree. This can be useful for international and/or criminal transactions.
Crypto ETFs, on the other hand, can’t be used in transactions. They seem to have stripped out even the small utility that crypto currencies have since they provide exposure to the currencies without actually owning the currencies themselves.
https://www.wsj.com/finance/currencies/crypto-exposure-etfs-funds-a23ca52c?mod=finance_lead_pos5
How to Get Crypto Exposure Without Owning Crypto Directly
Spot or index ETFs are good ways for ordinary investors to add cryptocurrencies to their portfolios, and there are higher-end options for the wealthy
By Cheryl Winokur Munk, The Wall Street Journal, June 7, 2026
…
The Securities and Exchange Commission approved the first batch of spot bitcoin ETFs in January 2024 and investors have several options to choose from. BlackRock’s iShares Bitcoin Trust ETF (ticker: IBIT) is the largest by total assets, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust (GBTC), according to VettaFi’s ETF database. Spot Ethereum ETFs begin trading in July 2024, and there are also several options. The largest by total assets is iShares Ethereum Trust ETF (ETHA)…
These ETFs are relatively inexpensive, typically with an expense ratio of 0.15% to 1.5%, are easy to buy through major online brokerages and trading platforms, and are regulated by the SEC…
Crypto index ETFs generally track a basket of the largest digital currencies, though the number of holdings varies. Bitwise 10 Crypto Index ETF (BITW), for example, tracks the 10 largest crypto assets, while Grayscale CoinDesk Crypto 5 ETF (GDLC) seeks to cover about 90% of the crypto market’s capitalization in a single fund… [end quote]
I’m mentioning this because some METARs might be interested. I’m not a gambler so I think these purely speculative ETFs are a terrible idea. I also don’t trust them any more than I trust GLD (the gold ETF). Neither gold nor crypto currencies pay dividends or have underlying business models. Both have experienced bubbles and busts.
Wendy