Top 5 Blockchain ETFs with Returns of 100% or More in 2023: Data
As the cryptocurrency community focuses on the possible approval of a U.S. spot Bitcoin (BTC) exchange-traded fund (ETF), some cryptocurrency-linked ETFs are already seeing significant gains in 2023.
One such ETF is the VanEck Digital Transformation ETF (DAPP), which has soared nearly 207% year to date (YTD), according to data from TradingView. Launched in April 2021, DAPP tracks the price and performance of the MVIS Global Digital Asset Stock Index, which is based on the performance of major companies involved in the digital asset economy.
VanEck’s DAPP ETF holds Coinbase (COIN), MicroStrategy (MSTR), and Block (SQ) as its top exposure assets. Coinbase and MicroStrategy have seen tremendous growth this year, according to data from TradingView. The stock is up 312% and 302% YTD, respectively.
As of this writing, DAPP is the best-performing blockchain ETF so far in 2023, beating out products like the Global no see. .
According to TradingView data, Global VettaFi’s performance data differs significantly from TradingView’s, with the former lagging by up to 50% in some cases. example.
Other major winners on the list of top-performing blockchain ETFs in 2023 include the Global According to TradingView.
Despite huge gains in 2023, some blockchain ETFs are still well off their all-time highs. For example, the VanEck Digital Transformation ETF is down about 77% from its record of $34 set in November 2021. Meanwhile, the iShares Blockchain and Tech ETF is hitting a new all-time high, with its stock price surpassing previous highs. Highest $8.4 in November 2023.
Related: SEC Postpones Invesco Galaxy Spot Ethereum ETF Decision Deadline to 2024
A number of companies that have found success with blockchain industry-themed ETFs in 2023 are also exploring launching physical Bitcoin ETFs, including VanEck, Bitwise, and Global X.
Unlike blockchain industry-themed ETFs such as DAPP and BKCH, spot Bitcoin ETFs hold actual cryptocurrency and thus aim to provide direct exposure to the Bitcoin price.
VanEck filed a fifth amendment to the Spot Bitcoin ETF on December 8 in another effort to get the Spot Bitcoin ETF filing approved by the U.S. Securities and Exchange Commission (SEC). According to Bitwise, a spot Bitcoin ETF is expected to be approved in December 2019. 2024 will be “the most successful ETF launch of all time.”
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