Many of the best performing thematic ETFs this year are related to cryptocurrencies and the blockchain as bitcoin rebounds, but investors have so far declined to embrace the rally. Many funds that primarily hold crypto-related stocks have already doubled in price this year. The Global X Blockchain ETF and the Bitwise Crypto Industry Innovators ETF , for example, are both up nearly 200% year to date.
mountain This Global X blockchain ETF has nearly tripled in price in 2023. The rally has come as bitcoin has rebounded to around the $30,000 level after the starting the year below $17,000. Dan Weiskopf, a portfolio manager at Tidal Financial Group who runs the Amplify Transformational Data Sharing ETF , said that the bitcoin miner stocks like Riot Platforms have driven the strong performance. "Their input costs have leveled off, and their output — which is bitcoin — has gone up 100%.