BLCN
Siren ETF Trust Siren Nasdaq NexGen Economy ETF
BLCN tracks an index of global companies involved in developing, researching, or using blockchain technologies.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
42.6 M
ASSETS UNDER MGMT
68 bp
EXPENSES
Fund Basics
| Fund sponsor | SRN Advisors |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 07, 2020 |
| Assets (mns) | $43 |
| Expense ratio | 68 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MICROSTRATEGY INC-CL A | 4.7 % |
| MARATHON DIGITAL HOLDINGS INC | 4.4 % |
| COINBASE GLOBAL, INC. CLASS A | 3.9 % |
| IRIS ENERGY LTD. | 3.8 % |
| INTL BUSINESS MACHINES CORP | 3.8 % |
| ROBINHOOD MARKETS, INC. CLASS A | 3.4 % |
| RIOT BLOCKCHAIN INC | 3.3 % |
| CORE SCIENTIFIC, INC. | 3.2 % |
| GALAXY DIGITAL HOLDINGS LTD. | 2.8 % |
| TERAWULF INC. | 2.4 % |
Constituent Breakdown
| Number of holdings | 49 |
| Herfindahl-Hirschman Index | 263 |
| Wgt avg mkt cap (mns) | $244,904 |
| Large cap (>$10bn) | 73.0% |
| Mid cap ($2-10bn) | 7.8% |
| Small cap (<$2bn) | 19.2% |
| Developed mkts. | 91.8% |
| Emerging mkts. | 8.2% |
Country Exposure
 |
UNITED STATES | 72.5 % |
 |
JAPAN | 12.2 % |
 |
AUSTRALIA | 3.8 % |
 |
GERMANY | 2.5 % |
 |
IRELAND | 2.3 % |
 |
CHINA | 2.1 % |
 |
CAYMAN ISLANDS | 1.8 % |
 |
TAIWAN | 1.6 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -13.4% | -15.1% | 2.5% | -16.0% | -1.6% | -- | -- | -3.1% |
| Dividend Yield | -12.0% | -16.8% | -7.4% | -3.2% | 0.1% | -- | -- | 0.5% |
| Total Returns | -25.4% | -31.9% | -5.0% | -19.2% | -1.5% | -- | -- | -2.6% | Ann. Volatility | 39.2% | 39.1% | 34.4% | 34.7% | 32.9% | -- | -- | 32.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.65 | 74% |
| MSCI EAFE | 1.29 | 45% |
| MSCI Emg Mkts | 1.13 | 34% |
Liquidity Measures
| Avg. volume (000) | 7 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 1.23% |
| ADV of underlying (mns) | $59,134 |
Technical Indicators
| Recent close | $19.81 |
| 30d moving avg. | $19.30 |
| Annualized volatility | 33.6% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 0.1% |
| 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. BLCN |
Expenses vs. BLCN |
ALTAR Score™ vs. BLCN |
|---|---|---|---|---|
| BLOK | Amplify Transformational Data Sharing ETF | 49.2% | +7 bp | -0.8% |
| BITQ | Bitwise Crypto Industry Innovators ETF | 42.2% | +17 bp | -4.1% |
| IBLC | iShares Blockchain and Tech ETF | 40.4% | -21 bp | -5.3% |
| BKCH | Global X Blockchain ETF | 37.4% | -18 bp | -6.0% |
| BLKC | Invesco Alerian Galaxy Blockchain Users and Decentralized Co | 37.1% | -7 bp | +0.7% |
| DAPP | VanEck Digital Transformation ETF | 34.6% | -18 bp | -1.3% |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 34.4% | -7 bp | -3.2% |
| BWEB | Bitwise Web3 ETF | 30.3% | +17 bp | -0.9% |
| STCE | Schwab Crypto Thematic ETF | 27.9% | -38 bp | +0.4% |
| CRPT | First Trust SkyBridge Crypto Industry & Digital Economy ETF | 27.6% | +17 bp | -1.3% |
Risk and Returns: BLCN 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| 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
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 4/28/2025
Peer Group Comparison Sample data. Subscribe for access.
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
BLCN
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 Rating
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.
ALTAR Score™
BLCN
1.3%
Cat. Avg
5.2%
ALTAR Score™ Calculation
Category Overview
There are 360 funds in the Global Equity category, with an average ALTAR Score™
of 5.2% and a standard deviation of
3.5%. BLCN's ALTAR Score™ is approximately
1.1 standard deviations
below
the category average. This places BLCN in the 13rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BLCNSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| BLCN (68 bp) Percentile rank | 77 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BLCN | 68.0 | 122.8 | 190.8 |
| Peer Avg. | 55.2 | 32.9 | 88.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .