Crypto exchange traded funds have been among the worst performers in the ETF space in 2022. With Bitcoin retreating below $30K and other cryptocurrencies showing an even steeper year-to-date decline, some ETFs have dropped as much as 65% since the end of 2021.
Excluding leveraged and inverse funds, the six worst performing ETFs on the year all belong to the crypto sphere. Global X Blockchain (NASDAQ:BKCH) has led the group lower, trading in the red by 65.5% in 2022.
Other major crypto losers include: the VanEck Digital Transformation (NASDAQ:DAPP) -64.4%, Bitwise Crypto Industry Innovators (NYSEARCA:BITQ) -62.8%, First Trust SkyBridge Crypto Industry and Digital Economy (CRPT) -62.7%, Viridi Cleaner Energy Crypto-Mining & Semiconductor (RIGZ) -61.1%, and the Defiance Digital Revolution (NFTZ) -57.1%.
James Malcolm, head of foreign exchange and crypto research at UBS told Bloomberg: "Crypto ETFs have proliferated like crazy over the past year, with more varieties and cheaper...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...