Want to play the crypto game via equities? Here are names to add to your watchlist

The crypto assets craze has been rising in India. Several investors, who are sceptical about direct crypto investments, are playing the theme via equities.

Some of the top names from the sector include Nvidia, CME Group, Block, IBM, Mastercard, DocuSign, Amazon, Coinbase Holdings and GlobalX Blockchain ETF. The majority of these stocks are listed on Nasdaq.

Once a frenzy, these spaces are now witnessing huge traction in 2022 after phenomenal returns in 2021, according to market experts.

These companies, listed in the international markets, are directly engaged in crypto, blockchain NFTs or the metaverse space, and investors are lapping up the shares of these companies.

Despite the poor performance in the December quarter, Meta (formerly Facebook Inc) remains the top bet to play the theme. The company’s stock tanked 26 per cent in Thursday trade.

Vinay Bharathwaj, co-founder and co-CEO, Stockal, said there is a crypto buzz, and it is more than just an inflation hedge.

“These themes are gaining traction and investment banks like Goldman Sachs and JPMorgan are also setting up crypto spaces, allowing investors to participate in these fast-growing asset classes,” he added.

The interest in holding crypto assets is increasing among Indian investors. One can see that from the way crypto exchanges have grown in the country.

Viram Shah, co-founder & CEO of Vested Finance, said that the US markets provide a way to get indirect exposure to the world of cryptocurrency and metaverses in three ways — investing in companies active in the space, investing in companies that hold or buy such assets, and investing in ETFs that play in this sector.

“Companies directly active in this space are the most popular among the investors,” said Shah. “Coinbase and Meta were among the top 10 stocks purchased on the platform in the last one month.”

Other popular stocks include Silvergate Capital, Shopify Inc, PayPal Holdings, Accenture PLC, Robinhood Markets, Advanced Micro Devices, Square and Canaan.

Virtual and augmented reality are poised to be the future, with more participation and players moving to metaverse in the coming years. Web 3.0, Meta and NFTs are probably where investors will be looking ahead in 2022.

It is a no brainer that metaverse is another hot topic on Wall Street apart from cryptos. Apart from stocks, there are some blockchain specific and crypto-specific ETFs as well, which investors are looking at.

To play the theme, investors can look at stocks like Apple, Meta platforms, Microsoft, Nvidia, Roblox, Unity Software, said Bharathwaj of Stockal.

“One can look at crypto mining stocks like Marathon Digital, Riot Blockchain, Hut8 Mining,” he added.

Such stocks are interesting and rewarding proxy play for an investor who wants crypto and blockchain exposure without directly investing or holding any crypto assets.

Market experts feel the action in the crypto space is just starting, and a lot is yet to happen. A lot of value creation over the next decade, they said.

“If we take a long-term view, then it’s difficult for an investor to ignore exposure to this theme,” Shah of Vested said.

Experts believe that momentum in such assets is likely to continue, thanks to the taxation announcement in the Union Budget, hinting towards a clear roadmap for the future.

Asheesh Chanda, founder & CEO, Kristal.AI, said many investors are looking to participate in one of the most disrupting trends of the current century. Crypto ETFs offer a low cost and low-risk alternative to physical cryptos.

“For those who are new to this world and go google-eyed with all the jargon around crypto, ETFs may be a compelling option to consider,” he added. “The ETF route does not have this dependency even for people with a low learning curve.”

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