BKCH
Global X Blockchain ETF
BKCH tracks a market-cap-weighted index of global companies involved in blockchain technologies.
Fund Basics
| Fund sponsor | Global X |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 14, 2021 |
| Assets (mns) | $118 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| COINBASE GLOBAL, INC. CLASS A | 21.7 % |
| CLEANSPARK, INC. | 18.0 % |
| MARATHON DIGITAL HOLDINGS INC | 13.3 % |
| RIOT BLOCKCHAIN INC | 6.8 % |
| BITFARMS LTD. | 4.5 % |
| GALAXY DIGITAL HOLDINGS LTD. | 4.4 % |
| IRIS ENERGY LTD. | 3.9 % |
| TERAWULF INC. | 3.8 % |
| BIT DIGITAL, INC. | 2.8 % |
| NVIDIA CORP | 2.3 % |
Constituent Breakdown
| Number of holdings | 25 |
| Herfindahl-Hirschman Index | 1,132 |
| Wgt avg mkt cap (mns) | $65,721 |
| Large cap (>$10bn) | 29.2% |
| Mid cap ($2-10bn) | 4.8% |
| Small cap (<$2bn) | 66.0% |
| Developed mkts. | 97.7% |
| Emerging mkts. | 2.3% |
Country Exposure
 |
UNITED STATES | 82.5 % |
 |
CANADA | 8.6 % |
 |
AUSTRALIA | 3.9 % |
 |
CHINA | 2.4 % |
 |
JAPAN | 1.1 % |
 |
GERMANY | 0.8 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 1.7% | 112.6% | 65.4% | -- | -- | -- | 30.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.60 | 4% |
| MSCI EAFE | 2.72 | 9% |
| MSCI Emg Mkts | 2.08 | 6% |
Liquidity Measures
| Avg. volume (000) | 64 |
| Turnover | 2.1% |
| Avg. Bid/Ask (% of price) | 0.56% |
| ADV of underlying (mns) | $44,126 |
Technical Indicators
| Recent close | $38.46 |
| 30d moving avg. | $30.97 |
| Annualized volatility | 160.1% |
| Relative strength (RSI) | 71 |
| Short interest (ETF) | 2.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BKCH |
Expenses vs. BKCH |
ALTAR Score™ vs. BKCH |
|---|---|---|---|---|
| IBLC | iShares Blockchain and Tech ETF | 60.3% | -3 bp | +4.9% |
| BITQ | Bitwise Crypto Industry Innovators ETF | 57.9% | +35 bp | +0.9% |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 57.1% | -11 bp | +4.5% |
| CRPT | First Trust SkyBridge Crypto Industry & Digital Economy ETF | 56.0% | +35 bp | +5.1% |
| GFOF | Grayscale Future of Finance ETF | 54.4% | +20 bp | +1.6% |
| WGMI | Valkyrie Bitcoin Miners ETF | 50.2% | +25 bp | -6.9% |
| DAPP | VanEck Digital Transformation ETF | 47.3% | 0 bp | -3.5% |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 36.3% | +11 bp | -8.3% |
| STCE | Schwab Crypto Thematic ETF | 27.9% | -20 bp | -2.5% |
| BLOK | Amplify Transformational Data Sharing ETF | 27.3% | +25 bp | +7.1% |
Risk and Returns: BKCH vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/15/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BKCH
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
BKCH
-5.9%
Cat. Avg
3.7%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -5.9% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 349 funds in the Global Equities category, with an average ALTAR Score™
of 3.7% and a standard deviation of
5.0%. BKCH's ALTAR Score™ is approximately
1.9 standard deviations
below
the category average. This places BKCH in the 3rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BKCH
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
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Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BKCH | 50.0 | 56.0 | 106 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .