Crypto Equities: A Picks and Shovels Approach to Investing in Bitcoin and Crypto

We examine the case for allocating to crypto equities, both as a proxy for cryptoasset exposure and as unique stand-alone investments.

The crypto industry is supported by a growing array of publicly traded companies that build and maintain the infrastructure that allows the ecosystem to thrive. These include crypto mining companies, mining equipment manufacturers, exchanges, custodians, and others. Investing in crypto companies has traditionally been the domain of venture capital funds; now that crypto has established itself as an asset class and a myriad of companies have achieved critical mass, these opportunities are available to public equity investors as well. In this paper, we examine the case for allocating to crypto equities, both as a proxy for crypto asset exposure and as unique stand-alone investments in their own right.