ETF Trends publisher Tom Lydon appeared on Fox Business Network’s “Closing Bell With Liz Claman’ on Monday to discuss the soaring price of Bitcoin as the Dow closed at a new record of 24,2940.05.
On Monday afternoon, one bitcoin was trading at $11,545 – down slightly from its new all-time high of $11,799 overnight.
“The CBOE and the CME are close to approving [Bitcoin] Futures,” Lydon said. “When Futures are available these derivatives are going to be seen in ETFs and people are going to be lining up at the door at the SEC (U.S. Securities and Exchange Commission) to start ETFs. It’s going to be a Future that’s going to be tied to the price of bitcoin. With that, it’s going to be more available to the average investor.”
For ETF investors looking for some bitcoin exposure now, Lydon pointed to the ARK Innovation Fund ETF (NYSEArca: ARKK), which include Grayscale’s Bitcoin Investment Trust (OTCQX: GBTC) as its largest holding.
Watch the segment here: