S 23 Cryptocurrency ETFs Ranked By Performance

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This article identifies and describes the make-up of 23 cryptocurrency ETFs and groups them into 4 strategies and then compares the performances of the ETFs in each group with each other to determine which have outperformed in the past month.

The 4 groups are those ETFs that track bitcoin futures (4), invest in crypto- and blockchain-related equities (8), invest in bitcoin (5) and in ethereum (4) cryptocurrencies indirectly through a brokerage account as well as two other ETFs and an inverse ETF. They are listed below, by group, in descending order.

Bitcoin Futures ETFs

  1.  VanEck Bitcoin Strategy ETF (XBTF): -16.6%
    • Began trading in November, 2021.
    • Has a management fee of 0.65% which is markedly lower than the 0.95% fee charged by both BITO and BTF.
    • Go here for chart of most recent pricing.
  2. Valkyrie Bitcoin Strategy ETF (BTF): -20.7%
    • Launched in October, 2021.
    • Go here for chart of most recent pricing.
  3. ProShares Bitcoin Strategy ETF (BITO): -21.0%
    • Began trading in October, 2021.
    • Go here for chart of most recent pricing.
  4. Global X Blockchain and Bitcoin Strategy ETF (BITS): -25.7%
    • Began trading on November 16th, 2021.
    • Invests in both bitcoin futures and companies positioned to potentially benefit from advances in blockchain technology.
    • Go here for chart of most recent pricing.

Crypto and Blockchain-related Equity ETFs

  1.  First Trust Indxx Innovative Transaction & Process ETF (LEGR): UP +2.5%
    • Launched in 2018.
    • A large-cap-heavy equity-based ETF that tracks the performance of the Indxx Blockchain Index.
    • Has a portfolio capped at 100 stocks of which 39% are in the financial sector, 32% in technology and 9% in consumer technology with the top three countries being the U.S. (34%), China (12%), and India (7%).
    • Go here for chart of most recent pricing.
  2. Simplify US Equity PLUS GBTC ETF (SPBC): - 2.1%
    • Launched in May, 2021.
    • Invests 85-90% of its assets in equities and 10-15% in the Grayscale Bitcoin Trust.
    • Go here for chart of most recent pricing.
  3. Siren Nasdaq NexGen Economy ETF (BLCN): -10.6%
    • Launched in January, 2018.
    • A passively managed ETF that tracks the performance of the Nasdaq Blockchain Economy Index.
    • Has 63 global constituents with the U.S. accounting for 53% of assets, Japan for 13% and China for 13% with the top three sectors being technology (43%), financials (33%) and communications (11%).
    • Go here for chart of most recent pricing.
  4. First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): -24.1%
    • Launched in September, 2021 by SkyBridge Capital II LLC, an alternative investment manager founded by Anthony Scaramucci, the one-time White House communications director for Donald Trump.
    • Plans to invest at least 80% of net assets in crypto industry companies (50%) and digital economy companies (50%).
    • Has 30 constituents, with the top 10 accounting for 60% of assets of which 35% are in software, 24% in capital markets and 15% in IT services (15%).
    • Go here for chart of most recent pricing.
  5. Bitwise Crypto Industry Innovators ETF (BITQ): -28.0%
    • Launched in May, 2021.
    • Tracks the performance of the Bitwise Crypto Innovators 30 Index, and the top 10 stocks account for a massive 64% of assets.
    • Go here for chart of most recent pricing.
  6. Volt Crypto Industry Revolution and Tech ETF (BTCR): -30.9%
    • Introduced in October, 2021.
    • Offers exposure to cryptocurrency through assets tied to the market, like miners and crypto-centric tech plays.
    • Go here for chart of most recent pricing.
  7. Global X Blockchain ETF (BKCH): -32.4%
    • Tracks the performance of the Solactive Blockchain Index.
    • Invests 50% in stocks that derive at least 50% of revenues from blockchain activities and 50% in "pre-revenue" firms whose primary business is in blockchain technology but don't yet generate revenue and in "diversified" companies that generate less than 50% of revenues from blockchain activities.
    • Technology accounts for 72% of assets, followed by financials (15%) and communication services (7%) with the U.S., Canada, and China accounting for almost 92% of the portfolio.
    • Go here for chart of most recent pricing.
  8. VanEck Digital Transformation ETF (DAPP): -34.2%
    • Launched in April, 2021.
    • Tracks the performance of the MVIS Global Digital Assets Equity Index.
    • Focuses on just 25 holdings of which the top 10 account for 64% of total assets with 75% of the portfolio invested in technology stocks, with the U.S. at 62% of assets, followed by Canada (14%), China (13%).
    • Go here for chart of most recent pricing.

Bitcoin ETFs

  1. Ninepoint Bitcoin ETF (BITC and BITC.U): +0.9%
    • Converted from a closed-end investment fund into an ETF in May, 2021,
    • Offers carbon-neutral exposure to Bitcoin for investors attracted to environmental, social & governance investment opportunities
    • Go here for chart of most recent pricing.
  2. Evolve Bitcoin ETF (EBIT and EBIT.U): -20.1%
    • Launched in February, 2021.
    • Has a management fee of 0.75%.
    • Go here for chart of most recent pricing.
  3. 3iQ Coinshare Bitcoin ETF (BTCQ and BTCQ.U): -20.2%
    • Launched in April, 2021.
    • Provides exposure to the daily price movements of the U.S. dollar price of bitcoin.
    • Go here for chart of most recent pricing.
  4. CI Galaxy Bitcoin ETF (BTCX.U and BTCX.B): -20.2%
    • Launched in March, 2021.
    • Has the lowest fee (0.4%) of any cryptocurrency ETF.
    • Go here for chart of most recent pricing.
  5. Purpose Bitcoin ETF (BTCC and BTCC.U): -26.8%
    • Became the world's first physically settled ETF exchange-traded fund back on February 18, 2021.
    • When you buy the ETF, you buy real Bitcoin with your money and, just like buying shares of your favorite stock, you can buy and sell Bitcoin seamlessly in your portfolio.
    • Go here for chart of most recent pricing.

Ethereum ETFs 

  1. CI Galaxy Ethereum (ETHX.U): -21.6%
    • Provides exposure to the daily price movements of the U.S. dollar price of Ethereum.
    • Go here for chart of most recent pricing.
  2. Evolve Ether ETF (ETHR and ETHR.U): -21.6%
    • Launched on April 20, 2021.
    • Has a management fee of 0.75%.
    • Go here for chart of most recent pricing.
  3. Purpose Ether ETF (ETHH and ETHH.U): -21.7%
    • Began trading on the TSX in April, 2021.
    • Invests directly in physically settled Ether tokens.
    • Go here for chart of most recent pricing.
  4. The 3iQ CoinShares Ether ETF (ETHQ and ETHQ.U): -21.8%
    • Began trading on the Toronto Stock Exchange in April, 2021.
    • Has a management fee of 1%.
    • Go here for chart of most recent pricing.

Other

  1. Evolve Cryptocurrencies ETF (ETC and ETC.U): -20.8%
    • Began trading on the TSX in September 2021, by initially investing in Evolve Bitcoin ETF (EBIT.U) and Evolve Ether ETF (ETHR) and, as such, pay no management fees.
    • Go here for chart of most recent pricing.
  2. Amplify Transformational Data Sharing ETF (BLOK): -27.0% 
    • An actively managed fund.
    • Invests both in companies involved in developing blockchain technologies, and/or using them for their own business and in the Purpose Bitcoin ETF and the 3iQ CoinShares Bitcoin ETF, both of which directly track Bitcoin, to provide some "direct" exposure.
    • Go here for chart of most recent pricing.

Please note that those ETFs with a ".U" in the trading symbol trade on Canadian exchanges in U.S. dollars. If you are American and wish to buy any of the Canadian ETFs, funds or trusts mentioned in this article then provide your broker with the security's CUSIP number (Go here to read "Advice For Americans On Buying Cannabis Stocks Listed On Canadian Exchanges") to facilitate any transaction.

Bitcoin and Ethereum

Below are the performances of Bitcoin and Ethereum since the end of November in descending order:

  1. Bitcoin: -18.2%
  2. Ethereum: -21.7%

The above analysis shows that only 2 of the 23 cryptocurrency/blockchain ETFs have advanced in price since the end of November while only 2 others have performed better than the physical Bitcoin and Ethereum assets have so perhaps one of those 4 ETFs is right for you depending on the results of your own due diligence.

To complete the overview of this market sector below are five other cryptocurrency investment vehicles to consider, namely:

Cryptocurrency Funds/Trust

  1. Bitcoin Strategy ProFund Investor Fund (BTCFX): -22.0%
    • Launched in late July, 2021.
    • Invests in Bitcoin futures contracts and in Canadian ETFs that invest in Bitcoin directly, and also invests in money market instruments such as U.S. Treasuries.
    • Has a $1,000 minimum initial purchase, as well as a 1.15% expense ratio.
    • Go here for chart of most recent pricing.
  2. The Bitwise 10 Crypto Index Fund (BITW): -23.5%
    • Launched in 2017 but has only become available over-the-counter since December, 2020.
    • Tracks the performance of the Bitwise 10 Large Cap Crypto Index which represents the 10 largest investable cryptocurrencies accounting for 70% of the total crypto market and, because BITW is weighted by market capitalization, Bitcoin accounts for 65% of the portfolio compared to Ethereum, at 25%, and Cardano at a distant third at 4%.
    • Go here for chart of most recent pricing.
  3. Grayscale Bitcoin Trust (GBTC): -25.9%
    • Invests passively in Bitcoin and enables investors to buy and sell shares through most traditional brokerage accounts at prices dictated by the market.
    • Go here for chart of most recent pricing.
  4. Grayscale Ethereum Trust (ETHE): -29.3%
    • invests passively in Ethereum and enables investors to buy and sell shares through most traditional brokerage accounts at prices dictated by the market.
    • Go here for chart of most recent pricing.

Inverse Cryptocurrency ETF

  • BetaPro Inverse Bitcoin ETF (BITI and BITI.U): +21.7%
    • Launched in April 2021
    • Designed to provide daily investment results through short investments in bitcoin futures that endeavor to correspond to the single inverse (opposite) performance of an index that replicates the returns generated over time through long notional investments in Bitcoin Futures.
    • Go here for chart of most recent pricing.

Conclusion

The above information provides prospective independent investors and financial advisors alike, with insights into the make-up of the different assets in the sector and some direction as where to concentrate one's due diligence before making any investment decisions.

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