Bitcoin Strategy ETFs and blockchain funds are in the green as Bitcoin (BTC-USD) looks to close above its 100-day moving average for the first time since late April. Bitcoin has now rallied 4.7% on Monday and is +11.4% since the end of August which in turn has bolstered related exchange traded funds.
The rally in the digital token has provided support for the ProShares Bitcoin Strategy ETF (NYSEARCA:BITO), Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF), and VanEck Bitcoin Strategy ETF (BATS:XBTF). All three funds trade in a parallel fashion to Bitcoin as they are priced directly off the futures contracts of the crypto asset.
Blockchain ETFs that provide indirect access to Bitcoin by delivering exposure to crypto miners, digital asset exchanges, digital payment providers, digital storage, and other crypto related fields also have gained. Two example funds are the Amplify Transformational Data Sharing ETF (BLOK) and Global X Blockchain ETF (BKCH).
Aside from looking to close above its...
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