Top weekly ETFs: let them eat crypto

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Once again, crypto ETFs led the way among the top weekly ETFs according to data from Logicly. The latest edition of Crypto Performance suggests that the summer may continue to roll out of the crypto world. Crypto ETFs took a big hit last year, but have delivered some of the best performance in ETF territory so far in 2023. This comes amid rumors surrounding BlackRocks’ filing of a Bitcoin ETF and this that this suggests about future SEC rules on crypto.

All but one of the top twelve ETFs focus on crypto, Bitcoin and the broader blockchain/digital asset landscape. Only the Teucrium Wheat Fund (WEAT) offered top performance in anything other than crypto. WEAT charges a hefty 114 basis point fee to track its wheat futures index. WEAT has returned nearly 18% over the past month despite returns of -9.4% since the start of the year. This turnaround has also shown up in flows, with $10.6 million coming into the fund over the past three months.

In crypto land, the Valkyrie ETF duo of WGMI and BTF led the way. The Valkyrie Bitcoin Miners ETF (WGMI) has returned 18.2% over the past week, while the Valkyrie Bitcoin Strategy ETF (BTF) has returned 17.9% over this period. WGMI charges a fee of 75 basis points and only launched last February, returning a staggering 190.4% year-to-date. BITF, meanwhile, is charging a fee of 95 basis points, returning 81.9% year-to-date. Both actively invest in their respective sides of the Bitcoin asset.

Complete the list of the best weekly ETFs

Other companies that make up the list include VanEck, GlobalX, Invesco, Grayscale and Fidelity. The Fidelity Crypto Industry and Digital Payments (FDIG) ETF was launched last April, charging a comparatively lower fee of 39 basis points. The ETF has returned 74.6% year-to-date, having reached $33.9 million in assets under management since launch. The strategy tracks a global index of crypto, blockchain and digital payments companies, including miners and other crypto infrastructure names.

Once again, crypto ETFs took the top positions based on one-week performance.

For more news, insights and analysis, visit the Crypto Channel.

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