The broker says it prefers outperform rated mining stocks Riot Platforms (RIOT) and CleanSpark (CLSK).

U.S.

The newly created ETFs could attract inflows of up to $36 billion from other crypto products like Grayscale Bitcoin Trust (GBTC), the report said.<

The crypto exchange has a dominant role in all but one of the approved ETFs, acting as an issuer or custodian, the report said.

The total market cap of the listed miners in the bank’s coverage has increased 131% since the end of September.

Mining stocks represent an attractive opportunity for investors looking to gain access to the long-term bitcoin adoption trade, the analysts wrote.

ETFs offer better investor protection, increased liquidity and lower tracking error than close-ended funds and trusts, the report said.

Ether is expected to outperform bitcoin and other cryptocurrencies next year due to the Ethereum blockchain’s EIP-4844 upgrade, the report said.