5 Best-Performing Stocks Of The Top ETF Of February

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Amplify Transformational Data Sharing ETF (BLOK - Free Reporttopped the list of the best-performing ETFs in February with impressive returns of about 31.8%.

Most of the rally was driven by the crazy run for cryptocurrency - bitcoin. The digital currency rose over $58,000 buoyed by investors’ enthusiasm that it will become a mainstream investment and payments vehicle before retreating in the final days of the month. Big companies are also stepping up in support of cryptocurrencies of late. The crypto is not a blockchain but an application running on the blockchain technology.

Bill Belden, President of Amplify ETFs, projects the global blockchain market to grow from $3 billion in 2020 to $39.7 billion by 2025, at a compound annual growth rate of 67.3%. This growth will be driven by three main sources, venture funding, enterprise investment in blockchain technology, and the rise of blockchain solutions for supply chain management. Belden sees greater geographic expansion into emerging markets and the potential growth of private blockchains that will continue to maintain the popularity of BLOK.

Additionally, blockchain technology has a wide range of applications that could benefit from the transparent distribution ledger, which includes central bank digital currencies, digital identity, supply chain management, health care, life sciences, food safety, voting, charitable donations, and real estate. Further, the COVID-19 crisis has accelerated the trend toward a cashless society with digital currency solutions. Worldwide spending on blockchain solutions will increase post the pandemic.

Let’s take a closer look at the fundamentals of BLOK.

BLOK in Focus

This fund is actively managed, providing investors global exposure to a basket of the leading companies engaged in the development and utilization of blockchain technologies. It holds a basket of 55 stocks with none accounting for more than 6% of the portfolio. American firms dominate about 56.8% of the portfolio, followed by Asia Pacific (36.8%). From an industrial look, software & services takes the largest share at 41.3% while diversified financials and media & entertainment round off the next two spots with double-digit exposure each.

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any ...

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