Digital asset-focused trading funds dominate top 14 equity ETFs in 2023: Bloomberg

Quick Take

  • 2023 is starting out as a great year for digital asset-focused funds.
  • The top fund, Valkyrie Bitcoin Miners ETF (WGMI), rose 67% in the past year, according to data from Bloomberg.

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. 


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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.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.


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