Cryptocurrencies have managed to grow from being a network for less than legal trades to being the investment asset for extremely wealthy users and various banks. The Silk Road back in 2011 was used for drug trades online. Now the system is used for making various kinds of investments has many daily life uses and can be used for making transactions on the go.
Some of the most influential uses of Crypto based products are discussed below.
Although the leading cryptocurrency, Bitcoin is yet to launch Exchange-Traded Funds (ETF) traders can invest in various other ETFs that were launched recently. There are five mentionable ETFs listed in firms across most of North America. These include Amplify’s BLOK, Reality Shares BLCN, Innovation Shares KOIN, Reality Shares BNCA, and First Trust’s LEGR.
Crypto Exchange-Traded Notes
One of the first crypto-based financial products were the Bitcoin Tracker Euro and Bitcoin Tracker One. These can be traded in both EUR and SEK across Europe. Recently, Ethereum has launched its own Ether Tracker One that can be traded similarly.
Crypto Certificates are financial products that allow users to access assets and other data that is normally off-limits. These can be traded on the Bitcoin network across Europe and can be accessed through exchanges as well.
Bitcoin Futures are arguably the most influential crypto-based products. The futures are being traded on CME and CBOE.
Futures allow users to invest in the token’s price without actually buying it. The traders need to search for a broker that accepts Futures from CME or CBOE.