It was the most anticipated IPO since BABA.
Shares climbed to $425 only to close out the day at $328.28.
This isn’t some random Chinese EV corp…
We’re talking about Coinbase (COIN).
They are the largest cryptocurrency exchange by volume in the United States.
While there are many more layers to COIN and its business model, advisors have their eyes on blockchain ETFs as a way to play the halo effect.
According to Trackstar data, the following blockchain ETFs have seen a lot of traffic. Check it:
BLOK: According to its prospectus, the Amplify Transformational Data Sharing ETF, or BLOK “seeks total return by investing in companies by developing or using ‘transformational data sharing technologies.’” What does that mean? Simply put: BLOK looks at companies that innovate on how blockchain data is being developed and shared. The following are some of the top ten holdings in the BLOK ETF: MSTR, MARA, PYPL, RIOT, SQ, and SI to name a few. What’s more, Amplify classifies each company included in the index as either “core” or “secondary” based on how closely tied the company’s business is to blockchain development.
BLCN: This ETF is different from BLOK. It tracks the NASDAQ Blockchain Economy Index which follows how companies develop and utilize blockchain technology. It’s a mix of value stocks and large cap companies and includes GLXY, BIDU, and CAN as its top three holdings.
LEGR: The First Trust Inxx Innovative Transaction and Process ETF (LEGR) has a mixed methodology when selecting global equities to track for its index. The “Active Enablers” are companies developing blockchain technology, products or services. The “active users” are companies that use the technology, and the “active explorers” the companies who want to integrate blockchain into their businesses. The index mix is rebalanced twice a year and currently lists NVDA, ORCL, AMZN, PYPL, and MSFT in its top ten holdings.