How to invest in crypto without buying crypto
Cryptocurrency is growing in popularity as both retail and institutional investors increase their exposure to this asset class. Here are some of the best ways to invest in crypto without directly purchasing the digital tokens themselves.
Disclaimer: An investment in any crypto-related asset can be a volatile investment with a risk of capital loss. Before making any investment decision, consider key risks and all fees and expenses relating to the investment to decide if it’s right for you, and seek advice from a licensed financial adviser where deemed appropriate. This article is for factual purposes only to provide information on cryptocurrency-related financial instruments. This article is not a recommendation to invest in any of the financial products listed and should not be taken as financial advice.
Cryptocurrency landscape in 2025
The cryptocurrency industry has come a long way since the Bitcoin Whitepaper was introduced to the world in 2009.
From being a currency associated with the dark web, Bitcoin has grown into a US$1.8t asset that renowned institutional investors seek exposure to. It is currently the seventh-largest asset by market capitalisation, sitting just below Amazon ($AMZN) and above silver.
The approval of US spot Bitcoin and Ethereum ETFs spurred a wave of new capital into digital assets in 2024. Since their first day of trade, spot Bitcoin ETFs have recorded US$36.2b in net inflows (taking into account Grayscale’s GBTC which has seen US$21.5b in outflows since it converted from a close-ended fund to an ETF). BlackRock’s IBIT was the best performer through the year, raking in US$37.6b worth of inflows since inception. $IBIT recorded the third-largest inflows in 2024 after the Vanguard S&P 500 ETF ($VOO) and the iShares Core S&P 500 ETF($IVV).
In 2025, owning cryptocurrency is easier than it's ever been.
In fact, industry watchers expect the regulatory environment to shift significantly under a pro-crypto Trump administration. In a keynote address at the Bitcoin 2024 conference, Donald Trump reversed his position on digital assets and promised to make the U.S. ‘the crypto capital of the planet.’ Market participants are anticipating more crypto ETFs to be approved over the next few months, with issuers already filing applications with the U.S. Securities and Exchange Commission (SEC) for XRP and Solana funds.
Spot Bitcoin ETF daily assets under management (in USD) for spot bitcoin ETFs based on on-chain holdings with known On-Chain addresses, namely BlackRock ($IBIT), the Grayscale Bitcoin Trust ($GBTC), Grayscale Bitcoin Mini Trust ETF ($BTC), Fidelity ($FBTC), Ark Invest/21Shares ($ARKB), Bitwise ($BITB), Franklin ($EZBC), Invesco/Galaxy ($BTCO), VanEck ($HODL), Valkyrie ($BRRR) and WisdomTree ($BTCW).
What is indirect crypto investing?
Indirect crypto investing is a means to gain exposure to the cryptocurrency market without directly purchasing or holding digital assets. This approach involves investing in assets and companies that are thematically related to crypto through traditional investment vehicles.
It is a somewhat less risky means of investing in the crypto market as it involves buying traditional financial instruments like crypto-related stocks and ETFs, subject to regulatory oversight and consumer protections.
Indirect crypto investing also eliminates some of the complexities associated with directly investing in crypto, including the need for crypto wallets or dealing with cryptocurrency exchanges, making it more accessible to traditional investors.
Ways to invest in crypto without an exchange
There are several effective ways to invest in cryptocurrency without using an exchange:
1. Buying Bitcoin and Ethereum Spot ETFs through an investing platform
In January 2024, the SEC approved Bitcoin Spot ETFs, followed by Ethereum Spot ETFs in May 2024. These ETFs offer direct exposure to Bitcoin and Ethereum without the need to manage digital wallets or navigate complex exchanges. The most popular Bitcoin ETFs are the iShares Bitcoin Trust ($IBIT) managed by BlackRock and Fidelity Wise Origin Bitcoin Trust ($FBTC).
2. Buying crypto-related stocks through an investing platform
Another way to gain exposure to the crypto sector is through investing in companies involved in cryptocurrency mining, blockchain technology, or crypto-related services. Some examples of publicly traded companies with significant Bitcoin holdings are MicroStrategy Incorporated ($MSTR), which holds 444,262 BTC and MARA Holdings ($MARA), which holds 26,842,435 BTC (see the top 10 in the image below).
3. Buying futures-based crypto ETFs through an investing platform
These ETFs invest in futures contracts of cryptocurrencies rather than the cryptocurrency itself. Bitcoin futures ETFs are regulated by the U.S. Commodities and Futures Trading Commission (CFTC) and must trade on CFTC-regulated exchanges like the CME. The ProShares Bitcoin Strategy ETF ($BITO) was the first U.S. bitcoin-linked futures ETF and remains the most popular in this particular category.
4. Buying blockchain technology ETFs through an investing platform
Blockchain technology ETFs offer investors exposure to companies involved in the development and implementation of blockchain technology. Some notable examples include the VanEck Digital Transformation ETF ($DAPP) and the Schwab Crypto Thematic ETF ($STCE).
💡 Discover: List of Ethereum ETFs available to invest in
How to invest in crypto without buying crypto
The main way to invest in crypto without buying crypto is through assets listed on the Aussie and U.S. stock market, using an online investment platform. Follow our step by step guide below:
1. Find a stock investing platform
To buy crypto without buying crypto, you'll need to sign up to an investing platform with access to the ASX and Wall St. There are several share investing platforms available, of which Stake is one.
2. Fund your account
Open an account by completing an application with your personal and financial details. Fund your account with a bank transfer, debit card or even Apple/Google Pay.
3. Search for the stock or ETF
Find the company name or ticker symbol. It is advised to conduct your own research to ensure you are purchasing the right investment product for your individual circumstances.
4. Set a market or limit order and buy the shares
Buy on any trading day using a market order, or a limit order to delay your purchase of the asset until it reaches your desired price. You may wish to look into dollar cost averaging to spread out your risk, which smooths out buying at consistent intervals.
Stocks and ETFs with Bitcoin exposure can be purchased in regular hours, pre-market and after hours. Learn more about extended hours trading.
5. Monitor your investment
Once you own the stock or ETF, you should monitor its performance. Check your portfolio regularly to ensure your investment remains to align with your financial goals.
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What is the minimum amount to start investing in crypto?
There is a minimum of A$500 when investing indirectly in crypto when purchasing shares listed on the ASX for the first time. This is known as the ‘Minimum Marketable Parcel’ (MMP).
There is a minimum investment amount of US$10 when investing indirectly in crypto through securities listed on the U.S. markets.
Consider your financial situation and risk tolerance before investing in these assets. Since crypto is a volatile asset class, prices can fluctuate dramatically and stocks and ETFs associated with crypto tend to move in tandem with the digital asset market. Investors who are new to cryptocurrency generally start off with a more conservative allocation of 1-2% of their total portfolio towards crypto-related investments.
🎓Guide: How to invest in Bitcoin ETFs in Australia
What is the benefit of investing indirectly into crypto then holding the underlying asset?
Indirect investment methods, such as ETFs or structured retail products, simplify the means of accessing crypto and reduce the complexity often associated with investing in this novel asset class. Through indirect methods, investors won’t need to manage wallets, private keys, or navigate complex exchanges.
Most of these methods also operate within regulated financial environments, providing greater transparency and investor safeguards. For those accustomed to traditional financial products, indirect crypto investments provide a more familiar and comfortable entry point into the cryptocurrency market.
Moreover, investors adding exposure to crypto through their main investment account allows for a more straightforward means of tax reporting compared to direct cryptocurrency ownership.
Things to consider when investing in cryptocurrency
When investing in cryptocurrency, it is important to thoroughly research the fundamentals of any crypto or related financial instrument before investing, including its utility, technology, team, and competitive advantages.
Cryptocurrencies and associated assets are likely to experience significant price fluctuations, as crypto prices can rise and fall dramatically in short periods. In that regard, it may be worth approaching crypto investments with a long-term outlook, rather than seeking short-term gains. As is the case with any investment, never invest more than you can afford to lose.
The evolving regulatory status of cryptocurrencies in your jurisdiction may also impact the digital asset market significantly, including the value of your investments associated with them.
Investing indirectly in crypto FAQs
Before you start investing in cryptocurrency, it is important to understand what cryptocurrency is and how it works. Once you feel comfortable with the potential risks and rewards associated with an investment, select a trading platform that is user-friendly and secure.
Consider using a dollar-cost averaging strategy to potentially reduce the impact of market volatility, by making small, recurring purchases on a set schedule.
Yes, you can invest in cryptocurrency without directly trading or owning digital tokens. There are several alternative methods to gain exposure to the crypto market, including Bitcoin and Ethereum ETFs, blockchain ETFs and crypto-related stocks. These indirect investment methods can be more accessible and potentially less risky than directly purchasing and managing cryptocurrencies.
It is possible to start investing in cryptocurrency with as little as $10, depending on the minimum trade amounts on your investment platform of choice. A smaller investment amount can be a great way to familiarise yourself with the crypto market, trading processes, and platform interfaces without risking substantial capital.
Disclaimer
The information contained above is not financial product advice nor a recommendation to invest in any of the securities listed. Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation and particular needs. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.
Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.
$3 brokerage fee only applies to trades up to $30k in value (USD for Wall St trades and AUD for ASX trades). Please refer to hellostake.com/pricing for other fees that are applicable.
Article sources
Samy is a markets analyst at Stake, with seven years of experience in the world of investing, working across roles in private banking, venture capital and financial media. She has a Master’s degree in Finance and Data Analytics from The University of Sydney Business School.
