"The fund's 32% year-to-date gain through late December crushed the S&P 500's 17% return and left Bitcoin's 7% decline in the dust. Only about 5% of the portfolio sits in spot Bitcoin ETFs like Fidelity Wise Origin Bitcoin Fund (NASDAQ:FBTC) and iShares Bitcoin Trust ETF (NASDAQ:IBIT). The rest is Bitcoin miners, crypto exchanges, fintech platforms, and chip makers that profit regardless of whether Bitcoin trades at $88,000 or $105,000."
"The biggest macro factor driving BLOK forward isn't Bitcoin's price. It's accelerating institutional adoption of blockchain infrastructure, which creates durable revenue streams for the companies BLOK holds. Grayscale's 2026 outlook projects that bipartisan crypto legislation will become U.S. law next year, deepening integration between public blockchains and traditional finance. That regulatory clarity matters more for companies building crypto rails than for Bitcoin itself."
Amplify Transformational Data Sharing ETF (BLOK) returned 32% year-to-date through late December, outperforming the S&P 500's 17% gain while Bitcoin fell about 7%. The fund holds only about 5% in spot Bitcoin ETFs; the remainder invests in Bitcoin miners, crypto exchanges, fintech platforms, and chip makers that earn revenue independent of Bitcoin's spot price. Accelerating institutional adoption of blockchain infrastructure and anticipated bipartisan crypto legislation are creating durable revenue streams for these companies. Regulatory clarity on stablecoins and custody from the SEC and Treasury would further unlock institutional capital. Top holdings like Robinhood and Coinbase benefit from trading volume and custody expansion.
Read at 24/7 Wall St.
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