Bitcoin, the most popular digital currency, soared to a new all-time high of nearly $70,000 per coin this week. It has climbed almost 125% this year, while the good old S&P 500 (SPX) is up less than 24%.
The first Bitcoin ETF started trading last month, allowing investors to get in on the crypto craze without actually buying the currencies outright.
Clearly, the crypto craze is here to stay. But there are big questions about what kind of regulation might be in the works for the asset class. And even some of Wall Street’s biggest names, most notably JPMorgan (JPM) CEO Jamie Dimon, remain skeptical of cryptos’ staying power.
For investors new to the space, the myriad of coins can be daunting. Here’s an overview of the five biggest cryptocurrencies.
Bitcoin has always been the biggest player in the cryptoverse, and is now worth more than $1.2 trillion in market capitalization, according to CoinMarketCap.
Its new all-time high makes it more than 10 times more valuable per unit than the next biggest crypto.
A beginner's guide to crypto lingo
Launched by an anonymous creator in 2009, the digital currency runs on