Crypto communities in the USA are focused on the possibility of a Bitcoin exchange-traded fund (ETF) being approved. During this process, some crypto-focused ETF products have begun to achieve significant gains in 2023. According to TradingView data, the VanEck Digital Transformation (DAPP) ETF has shown an increase of approximately 207% so far.
Launched in April 2021, DAPP tracks the price and performance of the MVIS Global Digital Assets Equity Index, creating a revenue system based on the performance of significant companies involved in the crypto asset economy. VanEck’s DAPP ETF fund includes major assets such as Coinbase (COIN), MicroStrategy (MSTR), and Block (SQ). TradingView data indicates that shares of Coinbase and MicroStrategy have seen significant growth this year.
According to data obtained by ETF data provider VettaFi, DAPP has been the best-performing blockchain-based ETF product of 2023 so far, leaving behind products such as the Global X Blockchain ETF (BKCH) and Bitwise Crypto Industry Innovators ETF (BITQ).
TradingView data shows that Global X’s BKCH product has yielded approximately 203% since the beginning of the year, while Bitwise’s BITQ product has provided a return of 192% to date. VettaFi’s performance data can sometimes vary up to 50% from TradingView data.
Among the best-performing blockchain ETF products of 2023, other significant winners have been the Global X Blockchain & Bitcoin Strategy ETF (BITS) and the iShares Blockchain and Tech ETF (IBLC), both of which have added more than 184% to their values since the beginning of the year. Although the VanEck Digital Transformation ETF is about 77% below its November 2021 record, the iShares Blockchain and Technology ETF stock continues to break records, surpassing the previous high level of $8.4 in November 2023.