The US crypto community has keenly monitored the prospective acceptance of a spot Bitcoin ETF. Nevertheless, among several other crypto-related ETFs, we have already seen massive gains for several funds over the course of the year 2023. Specifically, an upswing of approximately 207% in terms of the VanEck Digital Transformation (DAPP) ETF according to market information from TradingView.
Performance of Crypto-Centric Investment Vehicles
The first DAPP Exchange Traded Fund was initiated back in April 2021 and tracks the MVIS global digital assets equity index and pays out revenues based on how large the leading market players are doing. The most common stock in this is VanEck’s crypto-ETF includes CoinBase (COIN), MicroStrategy (MSTR) and Block (SQ). The tradingview data shows that as of today, Coinbase shares have increased by 312% as compared to last year, while they have shot up by 302%. Dapp has been named the highest performing blockchain based ETF on data released by etf data provider VettaFi. The company’s data shows that it performed better compared to other blockchain thematic etfs such as the global x blockchain etf (bkch) or bit
Blockchain ETFs Making an Impact in 2023
According to data on Trading View, Global X’s BKCH is up by more than 200% since the beginning of this year while Bitwises’ BITQ has provided 180% gains so far this year. However, most of the time, when you look at VettaFi’s performance data, it is very different than what TradingView shows. It could be as much as 50% difference. Other popular indices include the Global X Blockchain & Bitcoin Strategy ETF (BITS) and the iShares Blockchain and Tech ETF (IBLC). These indices have recorded gains of more than 184%, much to the delight of investors.
Some of these blockchain ETFs despite posting good results in 2023 remain below their peak levels. An example is the VanEck Digital Transformation ETF that has fallen by approximately 77% off its high of $34 in November 2021. On the other hand, the iShares Blockchain and Technology ETF have been setting all-time record highs, topping its previous high of $8.4 in November this year.”