These Cryptocurrency ETFs Continue To Dramatically Outperform Bitcoin & Ethereum

Blockchain, Technology, Smart, Bitcoin, Money

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Of the 30 non-inverse or short cryptocurrency/blockchain ETFs, mutual funds, and trusts (see here) trading on Canadian and American stock exchanges, there are three that almost exclusively own the stocks of companies that use or develop blockchain technology rather than focusing narrowly on tracking the price of individual cryptocurrencies. Here are their details including their performances last week, in descending order, and so far in September (MTD) and in comparison to Bitcoin and Ethereum:

  1. Simplify US Equity PLUS GBTC ETF (SPBC): DOWN 5.8% last week; DOWN 12.7% MTD
    • SPBC seeks to provide capital appreciation by providing an efficient way for asset allocators to add Bitcoin exposure to portfolios. It targets a 100% investment in U.S. equities while simultaneously providing a 10% exposure to Bitcoin via the Grayscale Bitcoin Trust (GBTC).
    • It does not invest directly in bitcoin, bitcoin futures, or other cryptocurrencies and, as such, does not track the price movements of cryptocurrencies.
    • Its holdings are concentrated in just three areas, namely: iShares Core S&P 500 ETF (IVV): 73.9%; September S&P e -mini Futures contract: (13.0%); and Grayscale Bitcoin Trust (GBTC): 9.2%.
    • The ETF has an expense ratio of 0.51%.
    • It has a dividend yield of 2.57%
    • It has Assets Under Management (AUM): US$48.8M
    • Go here for a chart of the most recent pricing.
  2. The CI Galaxy Blockchain ETF (CBCX): DOWN 6.1% last week; DOWN 11.5% MTD
    • The ETF was launched on April 22nd, 2022, by CI Global Asset Management, and trades on the Toronto Stock Exchange (TSX)
    • It seeks to replicate the performance of the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity Index, hedged to Canadian dollars, which intends to track the performance of companies engaged in the development of blockchain technologies, as well as businesses operating and developing the blockchain ecosystem.
    • It is moderately diversified with 35 holdings, with its largest holding amounting to 10.3% of net assets.
    • Its holdings are concentrated in the following sectors: Financials (46%) and Technology (47%).
    • Its top ten holdings, in descending order, are Marathon Digital (MARA), HIVE Blockchain (HIVE), Riot Blockchain (RIOT), Silvergate Capital (SI), MicroStrategy (MSTR), Coinbase Global (COIN), Hut 8 Mining (HUT), Canaan Inc. (CAN), Core Scientific (CORZ) and Block Inc. (SQ).
    • It has a CUSIP number of 12546E105*
    • It has an expense ratio of 0.50%.
    • It has no dividend.
    • It has approximately Canadian $670K Assets Under Management (AUM).
    • Go here for a chart of the most recent pricing.
  3. First Trust Indxx Innovative Transaction & Process ETF (LEGR): DOWN 6.6% last week; DOWN 11.9% MTD
    • LEGR is a passively managed fund that first launched in January 2018. It tracks the performance of the Indxx Blockchain Index.
    • It only invest in companies that have devoted real resources to actually using blockchain technology - either by currently deploying blockchain technology or actively developing and, as such, excludes companies that are merely exploring this new technology.
    • It is highly diversified with 108 holdings, with no single holding weighted at more than 1.8% of net assets.
    • It concentrates on the following sectors: Financials (41%), Technology (26%), Telecommunications (9%), Consumer Cyclicals (9%) and Industrials (6%).
    • Its top ten holdings, in descending order, are: ICICI Bank (IBN), (JD), Deutsche Telekom (DTEGF), Baidu Inc. (BIDU), IBM (IBM), Honeywell (HON), Alibaba (BABA), VMware Inc. (VMW), Mastercard (MA) and Engie SA (ENGIY).
    • It has an expense ratio of 0.65%.
    • It has a dividend yield of 3.14%
    • It has Assets Under Management (AUM) of US$113.9M
    • Go here for a chart of the most recent pricing.

Bitcoin and Ethereum Performances

For the record, Bitcoin was DOWN 5.8% last week and Ethereum was DOWN 11.6%, and they are now DOWN 20.8% and 23.5%, respectively, MTD.

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