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Investors can use these new Bitcoin ETFs to speculate on the price of Bitcoin, but as long-term investments, they carry incredibly high risks. There's a safer way to profit from the cryptocurrency craze. While investors can now buy Bitcoin with the same ease with which they buy stocks Bitcoin is no better as an investment than before the ETF.

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Some companies pay investors a dividend, giving them a direct share of its profits. With Bitcoin now available in ETF format backed by well-known players including Fidelity and BlackRock , the digital currency gains some much-needed legitimacy. See the 10 stocks. Take the recent approval of 11 new Bitcoin ETFs as evidence of this.