These are the 8 stocks that give investors exposure to bitcoin, according to Fundstrat

• Without an approved bitcoin ETF, it can be difficult for some investors to gain exposure to the cryptocurrency.
• One way to gain exposure to bitcoin is to invest in companies that either own bitcoin directly or have exposure to the space.
• Detailed below are the eight top stocks investors can buy to gain exposure to bitcoin, according to Fundstrat.
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Investors seeking exposure to bitcoin have few options other than directly buying it, as a bitcoin ETF has yet to be approved in the US.

And US approval of a bitcoin ETF might not come until 2023, according to a fund provider that already went through the application process.

With bitcoin surging more than 53% from its low of about $30,000 last month, investors are likely seeking another way to gain exposure to bitcoin without directly buying the cryptocurrency on exchange platforms like Coinbase.

Besides high-fee trusts and exchange traded notes that often trade on the over-the-counter markets, investors can turn to certain stocks to gain exposure to bitcoin and the broader cryptocurrency space. While some businesses directly hold bitcoin on their balance sheet, others offer products and services tied to the crypto market.

These are the 8 stocks investors can buy to gain exposure to bitcoin, according to a Monday note from Fundstrat.

1. Silvergate

Ticker: SI
Market Cap: $2.9 billion
Estimated Beta to Bitcoin: 5x to 10x

2. Mogo

Ticker: MOGO
Market Cap: $454.9 million
Estimated Beta to Bitcoin: 2x to 3x

3. Coinbase

Ticker: COIN
Market Cap: $53.3 billion
Estimated Beta to Bitcoin: 2x to 3x

4. Voyager

Ticker: VYGVF
Market Cap: $2.5 billion
Estimated Beta to Bitcoin: 2x to 3x

5. Riot Blockchain

Ticker: RIOT
Market Cap: $2.8 billion
Estimated Beta to Bitcoin: 2x to 3x

6. MicroStrategy

Ticker: MSTR
Market Cap: 7.0 billion
Estimated Beta to Bitcoin: 1x

7. PayPal

Ticker: PYPL
Market Cap: $329.8 billion
Estimated Beta to Bitcoin: 0.5x

8. Square

Ticker: SQ
Market Cap: $129.5 billion
Estimated Beta to Bitcoin: 0.5x