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
46.3 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) | $46 |
| 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 +
| CIPHER MINING INC | 5.4 % |
| IRIS ENERGY LTD. | 5.2 % |
| TERAWULF INC. | 4.8 % |
| RIOT BLOCKCHAIN INC | 4.7 % |
| CLEANSPARK, INC. | 4.3 % |
| HUT 8 CORP | 4.2 % |
| ROBINHOOD MARKETS, INC. CLASS A | 4.2 % |
| GALAXY DIGITAL HOLDINGS LTD. | 3.8 % |
| CASH & OTHER | 3.0 % |
| ADVANCED MICRO DEVICES | 2.7 % |
Constituent Breakdown
| Number of holdings | 51 |
| Herfindahl-Hirschman Index | 253 |
| Wgt avg mkt cap (mns) | $331,762 |
| Large cap (>$10bn) | 52.2% |
| Mid cap ($2-10bn) | 13.2% |
| Small cap (<$2bn) | 11.6% |
| Developed mkts. | 87.6% |
| Emerging mkts. | 5.1% |
Country Exposure
 |
UNITED STATES | 69.7 % |
 |
CHINA | 5.5 % |
 |
AUSTRALIA | 5.2 % |
 |
CANADA | 4.2 % |
 |
GERMANY | 3.3 % |
 |
JAPAN | 2.2 % |
 |
TAIWAN | 1.6 % |
 |
CAYMAN ISLANDS | 1.4 % |
 |
IRELAND | 1.2 % |
 |
ISRAEL | 0.8 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 11.2% | 14.0% | 23.6% | 8.4% | -3.0% | -- | -- | 1.5% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -- | -- | 0.0% |
| Total Returns | 11.2% | 14.0% | 23.6% | 8.4% | -3.0% | -- | -- | 1.5% | Ann. Volatility | 40.3% | 41.0% | 38.8% | 35.9% | 33.3% | -- | -- | 33.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 2.04 | 71% |
| MSCI EAFE | 0.88 | 18% |
| MSCI Emg Mkts | 0.63 | 11% |
Liquidity Measures
| Avg. volume (000) | 8 |
| ADV traded (mns) | $0 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 5.55% |
Technical Indicators
| Recent close | $28.50 |
| 30d moving avg. | $28.48 |
| Annualized volatility | 31.2% |
| Relative strength (RSI) | 56 |
| Short interest | 4.1% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| BITQ | Bitwise Crypto Industry Innovators ETF | 46.1% | +17 bp | -1.9% |
| BLOK | Amplify Transformational Data Sharing ETF | 42.8% | +7 bp | +0.3% |
| BKCH | Global X Blockchain ETF | 38.1% | -18 bp | -3.3% |
| DAPP | VanEck Digital Transformation ETF | 37.7% | -18 bp | 0.0% |
| IBLC | iShares Blockchain and Tech ETF | 37.2% | -21 bp | -1.4% |
| WGMI | Valkyrie Bitcoin Miners ETF | 35.8% | +7 bp | -3.9% |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 31.1% | -29 bp | -0.7% |
| BLKC | Invesco Alerian Galaxy Blockchain Users and Decentralized Co | 30.3% | -7 bp | +1.8% |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 25.4% | -7 bp | -0.6% |
| TMAT | Main Thematic Innovation ETF | 25.3% | +96 bp | -1.5% |
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
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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 11/1/2025
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
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
BLCN
3.7%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 370 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.1%. BLCN's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places BLCN in the 43rd 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 | 177 |
| Avg. Expense Ratio | 55.1 bp |
| Std. Deviation | 18.1 bp |
| BLCN (68 bp) Percentile rank | 76 |
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 | 554.5 | 622.5 |
| Peer Avg. | 55.1 | 39.5 | 94.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .