The Rise of Crypto-Heavy ETFs
Exchange-Traded Funds (ETFs) are not what they used to be, and they are evolving faster than your uncle’s karaoke skills at family gatherings! According to reports from the esteemed ETF.com, these funds are packing their portfolios with shares from companies that are holding Bitcoin (BTC) like it’s the last slice of pizza at a party. Talk about a digital feast!
ETFs Making Waves
As of now, a whopping 88 ETFs have their claws into MicroStrategy shares. On top of that, 144 ETFs hold shares from Square, while an impressive 222 ETFs have their fingers in Tesla. It’s like a crypto buffet folks, and it looks like everyone’s at the table! Furthermore, 16 ETFs are diving headfirst into Bitcoin mining stocks, because who wouldn’t want a piece of that cash-minting action?
Performance Insights: The Heavyweights
Let’s not forget about the profit-hungry sharks in this vast sea of investment. BlackRock, bless their wallets, recently banked a cool $360,457 after casually tiptoeing into the crypto waters. It seems even titans can have a side gig!
Top Performers: The Crypto Titans
Among the ETFs flexing their muscles in the crypto realm, the Amplify Transformational Data Sharing ETF (BLOK) stands tall. Holding a rich array of top crypto firms like Galaxy Digital and Marathon Digital, BLOK’s portfolio represents one-third of its capital with these stocks. In 2021, BLOK has seen an incredible 71.7% growth. That’s right, it’s not just a fund; it’s a superstar!
Navigating the Crypto ETF Jungle
The Nasdaq NexGen Economy ETF (BLCN) has also thrown its hat in the ring, boasting a YTD gain of 23.15%. It might be at 82nd in the rankings, but hey, it’s all about being on the list, right? With significant investments in Marathon, MicroStrategy, and Square, BLCN definitely means business.
Value Holds in Crypto ETFs
If you’re wondering who carries the big bucks in the crypto ETF game, look no further than the Vanguard Total Stock Market ETF (VTI). This fund is like a crypto bank vault, with heavy allocations of $2.77 billion in Tesla and other substantial holdings. Coming in second is the iShares Core S&P Total U.S. Stock Market ETF (ITOT), also showing off its crypto-heavy assets!
Regulatory Updates: The Waiting Game
The U.S. Securities and Exchange Commission (SEC) is still sitting on its thumbs, contemplating seven applications for Bitcoin ETFs. Notable contenders include Fidelity Investments and Morgan Stanley. Meanwhile, the Purpose Bitcoin ETF is making waves across the border in Canada and has already accumulated about $1 billion worth of BTC. Who knew neighbors could be so supportive?
