Crypto-flavored exchange-traded funds are cluttering the industry’s worst-performing list so far this year.
The six worst-performing, non-leveraged ETFs in the $6.6 trillion arena in 2022 are all crypto-linked equity funds, according to data compiled by Bloomberg. The $63 million Global X Blockchain ETF (ticker BKCH) is the biggest loser with a year-to-date drop of 64%.
While crypto-linked ETFs have swelled in ranks over the past year, performance has been grim. Fading speculative fervor and tightening monetary policy has dragged Bitcoin lower by more than 30% this year, slamming the stocks of public companies involved with digital assets.