Trader Tim Seymour said the iShares MSCI United Kingdom ETF is the one to "play the U.K. and U.K. stocks." However, he was negative on Italian assets like the iShares MSCI Italy Capped ETF, which he said could come under some pressure.
Trader Steve Grasso said that it makes sense to follow Friday's market moves, like the sterling hitting a low of 1.418 against the dollar.
"Buy the dollar any way that you feel comfortable buying the dollar," said Grasso.
Trader Dan Nathan said that the SPDR EURO STOXX 50 ETF is "one way to play for the prior lows there over the next month or so."
Trader Guy Adami said a "Brexit" would lead to a drop in treasury yields, which he noted are already "historically low all across the world." He recommended looking at the iShares 20+ Year Treasury Bond ETF, which he thinks could go higher on the back of a British exit from the EU.