Crypto-flavored exchange-traded funds are cluttering the industry’s worst-performing list so far this year.
The six worst-performing, non-leveraged ETFs in the $6.6 trillion arena in 2022 are all crypto-linked equity funds, according to data compiled by Bloomberg. The $63 million Global X Blockchain ETF (ticker BKCH) is the biggest loser with a year-to-date drop of 64%.
While crypto-linked ETFs have swelled in ranks over the past year, performance has been grim. Fading speculative fervor and tightening monetary policy has dragged Bitcoin lower by more than 30% this year, slamming the stocks of public companies involved with digital assets.
The silver lining is that even as the number of funds has ballooned, inflows have been light -- minimizing the overall blow to portfolios, according to UBS.
“Crypto ETFs have proliferated like crazy over the past year, with more varieties and cheaper fees, but inflows have been miserable,” said James Malcolm, head of foreign exchange and crypto...
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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...