15 Best Blockchain and Bitcoin ETFs

Published on March 19, 2024 at 3:07 am by Hamna Asim in ETF Trading, News

In this article, we discuss the 15 best blockchain and bitcoin ETFs. If you want to skip our discussion on the cryptocurrency industry, head directly to 5 Best Blockchain and Bitcoin ETFs.

The cryptocurrency market has experienced a significant turnaround from the losses of 2022 and 2023, with a notable rise driven by Bitcoin. Bitcoin’s price has been steadily climbing since October 2023 and is currently approaching its previous record levels from late 2021. The surge in prices suggests that the cryptocurrency market may be on track to set new records this year. The key question now is whether this trend signifies a sustained bull market in cryptocurrencies or a short-lived surge. This upward trend follows a surge of interest from retail investors in spot Bitcoin ETFs. For instance, on March 4 alone, net inflows into the US-based Bitcoin ETFs reached approximately $562 million, as reported by Cointelegraph.

The rising popularity of digital currencies like Bitcoin, Litecoin, and Ethereum is anticipated to drive market growth in the coming years. People in developed nations are increasingly embracing the convenient and flexible nature of digital transactions offered by these currencies. This surge in virtual currency usage has prompted central banks to show support for digital currencies. Additionally, digital currencies often leverage blockchain technology to achieve decentralization and facilitate efficient transactions, which are fast, transparent, secure, and reliable. Companies are capitalizing on these advantages by investing in cryptocurrency and forming partnerships to enhance services for users. For example, in October 2018, the Qtum Chain Foundation, based in Singapore, collaborated with Amazon.com, Inc. (NASDAQ:AMZN)’s Amazon Web Services China to deploy blockchain systems on the Amazon Web Services cloud. This strategic partnership aimed to simplify the development and deployment of smart contracts for AWS users using Amazon Machine Images.

A recent report suggests that Bitcoin may hit a new record of $88,000 in 2024, settling at around $77,000 by year-end. Finder, a UK fintech firm, conducted a study based on predictions from 40 crypto industry specialists. The experts anticipate an average peak price of $87,875 in 2024, with some predicting it could reach $200,000. Conversely, the lowest expected price by the end of 2024 is around $35,734, with a few forecasts of as low as $20,000. Over half of the surveyed experts expect prices to rise after a “BTC halving event” in April 2024, where the reward for mining Bitcoin transactions is halved. This reward could decrease to 3.125, leading to a decrease in supply and potentially higher prices.

Some experts believe Bitcoin faces pressure due to the halving event and increasing interest from major companies and institutional investors, which could drive up demand. The approval of 11 Bitcoin ETFs by the US Securities and Exchange Commission is expected to bring more buyers into the market, as it makes trading Bitcoin-related investment funds easier on US stock exchanges. Additionally, analysts anticipate that a cut in the historically high benchmark rate by the US Federal Reserve could lead to more liquidity flowing into Bitcoin, further boosting its price. However, John Hawkins, a senior lecturer at the University of Canberra, remains cautious, viewing cryptocurrency as primarily speculative in nature. He stated:

“If the new spot Bitcoin ETFs are popular, there could be a temporary price increase. But, in the medium to longer-term, I still regard Bitcoin as a speculative bubble.”

On the other hand, the global blockchain market was valued at about $7.4 billion in 2022 and is forecasted to reach over $94 billion by the end of 2027, with a projected compound annual growth rate of approximately 66.2% during the period from 2022 to 2027. Increased demand for blockchain technology across sectors such as retail, banking, and supply chain is anticipated to drive market expansion. However, the limited availability of skilled professionals to implement blockchain technology could pose a challenge to market growth.

This article discusses some of the best performing blockchain and bitcoin ETFs that provide investors with access to stocks like Coinbase Global, Inc. (NASDAQ:COIN), NVIDIA Corporation (NASDAQ:NVDA), and CleanSpark, Inc. (NASDAQ:CLSK).

Our Methodology

We curated our list of the best blockchain and bitcoin ETFs by choosing consensus picks from multiple credible websites. We have mentioned the 5-year share price performance of each ETF as of March 15, 2024, ranking the list in ascending order of the share price. It is important to note, however, that not all ETFs have been trading for 5 years. We have also discussed the top holdings of the ETFs to offer better insight to potential investors.

A close-up of a laptop with a Bitcoin ecosystem monitor running in the background.

Best Blockchain and Bitcoin ETFs

15. Siren Nasdaq NexGen Economy ETF (NASDAQ:BLCN)

5-Year Share Price Performance as of March 15: 22.74%

The Siren Nasdaq NexGen Economy ETF (NASDAQ:BLCN) aims to invest in firms actively involved in development, research, or use of blockchain technologies. It seeks long-term growth by mirroring the investment returns of the NASDAQ Blockchain Economy Index, before deducting fees and expenses. The ETF was launched on January 17, 2018, and as of March 13, 2024, it holds net assets totaling $81.08 million, with gross expenses of 0.68%. The fund’s portfolio, as of March 14, 2024, comprises 55 stocks.

MicroStrategy Incorporated (NASDAQ:MSTR) is the largest holding of the Siren Nasdaq NexGen Economy ETF (NASDAQ:BLCN). It offers enterprise analytics software and services powered by artificial intelligence globally. On February 6, MicroStrategy Incorporated (NASDAQ:MSTR) announced a Q4 non-GAAP EPS of $5.62, beating market estimates by $5.41, and a revenue of $124.5 million, falling short of estimates by $7.68 million.

According to Insider Monkey’s fourth quarter database, 16 hedge funds were bullish on MicroStrategy Incorporated (NASDAQ:MSTR), same as the previous quarter.

In addition to Coinbase Global, Inc. (NASDAQ:COIN), NVIDIA Corporation (NASDAQ:NVDA), and CleanSpark, Inc. (NASDAQ:CLSK), MicroStrategy Incorporated (NASDAQ:MSTR) is one of the best blockchain and bitcoin stocks to buy.

Miller Value Partners Income Strategy made the following comment about MicroStrategy Incorporated (NASDAQ:MSTR) in its Q1 2023 investor letter:

“MicroStrategy Incorporated (NASDAQ:MSTR) 0.75% 12/15/2025 rose in sympathy with Bitcoin’s 71.7% gain during the first quarter. The company reported 4Q22 revenue of $132.6MM, -1.5% Y/Y (+4.1% on constant currency basis), ahead of consensus of $131.0MM, and an adjusted loss from operations of -$176.7MM, compared to a 4Q21 adjusted loss of -$124.3MM. During the quarter, MicroStrategy’s subsidiary, Macrostrategy, voluntarily paid off a $205MM loan to Silvergate Bank with a 22% discount after the bank filed for liquidation earlier this year. Additionally, MicroStrategy reported that it purchased another ~6.5K bitcoin for ~$150MM in cash, at an average price of $23.2K per token, bringing the company’s total holdings to ~139.0K bitcoin as of 3/23/23, which is worth approximately $3.95B based on a bitcoin price of ~$28.4K as of 3/31/23.”

14. First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR)

5-Year Share Price Performance as of March 15: 47.08%

The First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR) aims to mirror the performance of the Indxx Blockchain Index. It is one of the best blockchain and bitcoin ETFs. This index tracks companies that actively use, invest in, develop, or have products benefiting from blockchain technology and its potential for increased efficiency in business processes. The ETF was launched on January 24, 2018, and as of March 14, 2024, it has net assets of $104.61 million and holds 102 stocks. The fund’s expense ratio is 0.65% as of February 1, 2024.

NVIDIA Corporation (NASDAQ:NVDA) is the top holding of the First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR).The company offers graphics, computing, and networking solutions in different countries around the world.

According to Insider Monkey’s fourth quarter database, 173 hedge funds were bullish on NVIDIA Corporation (NASDAQ:NVDA), compared to 180 funds in the preceding quarter. Rajiv Jain’s GQG Partners held a significant position in the company, with 13.9 million shares valued at approximately $6.89 billion.

Alger Spectra Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its fourth quarter 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is a leading supplier of graphics processing units (GPUs) for a variety of end markets, such as gaming, PCs, data centers, virtual reality and high-performance computing. The company is leading in most secular growth categories in computing, and especially artificial intelligence and super- computing parallel processing techniques for solving complex computational problems. Simply put, Nvidia’s computational power is a critical enabler of Al and therefore critical to Al adoption, in our view. During the period, shares contributed to performance as Nvidia reported solid fiscal third quarter results well above analyst expectations, driven by strong demand from data centers. Growing Al data center workloads are driving demand for the increased interconnections and fully accelerated software stacks, thereby enabling leading application performance and fast result times.”

13. ARK Next Generation Internet ETF (NYSE:ARKW)

5-Year Share Price Performance as of March 15: 56.05%

ARK Next Generation Internet ETF (NYSE:ARKW) is an actively managed ETF aiming for long-term capital growth by primarily investing in domestic and US-listed foreign equity securities of companies relevant to the fund’s focus on the next generation internet. ARK Next Generation Internet ETF (NYSE:ARKW) was introduced on September 30, 2014, and it is one of the best blockchain and bitcoin ETFs. As of January 31, 2024, the ETF’s net assets total $1.52 billion, with an expense ratio of 0.88%. Its portfolio typically includes 35 to 55 stocks.

Coinbase Global, Inc. (NASDAQ:COIN) is the largest holding of the ARK Next Generation Internet ETF (NYSE:ARKW). It offers financial infrastructure and technology services for the cryptocurrency economy worldwide. On February 15, Coinbase Global, Inc. (NASDAQ:COIN) reported a Q4 GAAP EPS of $1.04 and a revenue of $953.8 million, outperforming market consensus by $1.03 and $134.87 million, respectively.

As per Insider Monkey’s fourth quarter database, 41 hedge funds were bullish on Coinbase Global, Inc. (NASDAQ:COIN), an increase from 27 funds in the previous quarter. Cathie Wood’s ARK Investment Management held the largest position in the firm, with 8.6 million shares worth around $1.5 billion.

Patient Capital Management stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its fourth quarter 2023 investor letter:

“Coinbase Global, Inc. (NASDAQ:COIN) climbed an incredible 131.7% in the quarter outpacing the 57% gain in bitcoin over the same period as investors became excited about the potential approval of a Bitcoin ETF in the new year. Coinbase continues to stand out as the lead survivor in an industry of fading and failing leaders. Cost savings initiatives taken earlier in the year have resulted in three quarters of positive EBITDA leading to expectations for “meaningful positive adjusted EBITDA” for the full year 2023. We continue to believe COIN has the potential to be the platform for crypto with $5B in liquidity providing the ability to invest and weather any crypto winters.”

12. Bitwise Bitcoin ETF (NYSE:BITB)

5-Year Share Price Performance as of March 15: 57.39%

Bitwise Bitcoin ETF (NYSE:BITB) offers an affordable way to invest in bitcoin through a traditional, professionally handled ETF. Managed by Bitwise, a company with expertise and a successful track record in managing crypto assets for institutional investors, the fund directly invests in bitcoin and is easily accessible through a brokerage account. The Bitwise Bitcoin ETF (NYSE:BITB) is ranked 12th on our list of the best bitcoin and blockchain ETFs. The ETF was launched on January 10, 2024. As of March 15, 2024, the fund’s net assets total $2.04 billion.

11. WisdomTree Bitcoin Fund (BATS:BTCW)

5-Year Share Price Performance as of March 15: 57.50%

Next on our list of the best blockchain and bitcoin ETFs is the WisdomTree Bitcoin Fund (BATS:BTCW), which is designed to mirror the price movements of bitcoin by holding the cryptocurrency. The fund’s share value is typically calculated daily using an independently determined value based on a combination of actual trade data from major bitcoin exchanges. Launched on January 11, 2024, the fund had net assets totaling $75.18 million as of March 15, 2024, with a gross expense ratio of 0.25%.

10. ARK 21Shares Bitcoin ETF (BATS:ARKB)

5-Year Share Price Performance as of March 15: 57.66%

ARK 21Shares Bitcoin ETF (BATS:ARKB) aims to mirror the performance of bitcoin, as determined by the CME CF Bitcoin Reference Rate – New York Variant. ARK 21Shares Bitcoin ETF (BATS:ARKB) is placed among the best blockchain and bitcoin ETFs. Launched on January 10, 2024, the fund holds net assets totaling $1.52 billion as of February 16, 2024, its expense ratio stands at 0.21%.

9. Fidelity Wise Origin Bitcoin Fund (BATS:FBTC)

5-Year Share Price Performance as of March 15: 57.71%

Ranked among the best blockchain and bitcoin ETFs, the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) aims to match the performance of bitcoin, as determined by the Fidelity Bitcoin Reference Rate, after accounting for the Trust’s expenses and other obligations. Launched on January 10, 2024, the fund holds net assets amounting to $6.43 billion as of March 15, 2024.

8. VanEck Bitcoin Trust ETF (BATS:HODL)

5-Year Share Price Performance as of March 15: 57.78%

The VanEck Bitcoin Trust ETF (BATS:HODL), one of the best blockchain and bitcoin ETFs, aims to mirror the price performance of Bitcoin after deducting the Trust’s operational expenses. It is a passive investment vehicle that solely tracks the price of Bitcoin without seeking additional returns. The fund was launched on January 4, 2024. As of March 15, 2024, the fund holds net assets totaling $532.56 million, featuring an expense ratio of 0.20%.

7. iShares Bitcoin Trust (NASDAQ:IBIT)

5-Year Share Price Performance as of March 15: 69.35%

The iShares Bitcoin Trust (NASDAQ:IBIT) aims to closely track the price performance of Bitcoin. Ranked 7th on our list of the best blockchain and bitcoin ETFs, this trust allows investors to gain exposure to Bitcoin through a traditional brokerage account. Developed by BlackRock, the world’s largest asset manager and ETF provider, the iShares Bitcoin Trust (NASDAQ:IBIT) was launched on January 5, 2024. As of March 15, 2024, the fund holds net assets totaling $15.94 billion, with a sponsor fee of 0.25%.

6. Amplify Transformational Data Sharing ETF (NYSE:BLOK)

5-Year Share Price Performance as of March 15: 97.55%

The Amplify Transformational Data Sharing ETF (NYSE:BLOK) is actively managed and aims to achieve total return by investing primarily in equity securities of companies actively engaged in developing and using blockchain technologies. It was launched on January 17, 2018. As of March 15, 2024, the fund has net assets totaling $711.95 million, with an expense ratio of 0.76%. Its portfolio includes 53 stocks. It is one of the best blockchain and bitcoin ETFs to invest in.

Galaxy Digital Holdings Ltd. (TSE:GLXY) is one of the top holdings of the Amplify Transformational Data Sharing ETF (NYSE:BLOK). Galaxy Digital Holdings Ltd. (TSE:GLXY), a company specializing in asset management, operates in the digital asset, cryptocurrency, and blockchain technology sector. It is divided into five parts – Trading, Principal Investments, Asset Management, Investment Banking, and Mining.

Like Coinbase Global, Inc. (NASDAQ:COIN), NVIDIA Corporation (NASDAQ:NVDA), and CleanSpark, Inc. (NASDAQ:CLSK), Galaxy Digital Holdings Ltd. (TSE:GLXY) is one of the best blockchain and bitcoin stocks to buy.

Click to continue reading and see 5 Best Blockchain and Bitcoin ETFs.

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