Digital asset-focused trading funds comprised the top 14 equity exchange traded funds (ETFs) in 2023 (excluding leveraged funds), according to data compiled by Bloomberg.
Some of the top performers include the Valkyrie Bitcoin Miners ETF (WGMI), which rose 67% in the past year, as well as the VanEck Digital Assets Mining ETF (DAM), which rose 56%. Notable mentions also include the VanEck Digital Transformation ETF (DAPP), Global X Blockchain ETF (BKCH) and the Bitwise Crypto Industry Innovators ETF (BITQ), which all increased by double-digit percentages.
The moves reverse ETF performance last year, which saw cryptocurrencies frequently falling in value, and notable companies like FTX implode. Though markets are recovering somewhat, the rallying digital asset-focused funds could be tied to the performance of crypto more generally, director of ETFs at WallachBeth Capital Mohit Bajaj told Bloomberg.
Though the U.S. SEC maintains high standards for digital asset-focused ETFs, other international ETF launches, like Hong Kong’s bitcoin and ether ETFs released on Dec. 15, 2022, have attracted millions in investment.
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Source: https://www.theblock.co/post/202290/digital-asset-focused-trading-funds-dominate-top-14-equity-etfs-in-2023-bloomberg?utm_source=rss&utm_medium=rss