Nearly 100 hundred ETFs hold a company that is a poor proxy for physical bitcoin.

Year-to-date inflows for ‘KWEB’ total $3.8 billion despite a 43% decline in prices for the ETF.

Thematic ETFs tend to be targeted and flexible, holding stocks from across multiple sectors and industries.

The SEC may have indicated it is unwilling to approve these products anytime soon.

It adds to the flood of futures-based cryptocurrency ETF filings over the past two weeks.

In just a week, four filings entered the pipeline, bringing the total up to five.

Shares of the crypto exchange are down from their debut in April, but up 20% over the past week.

The second most valuable cryptocurrency nearly doubled off its recent lows.

CryptoPunks are among the most-sought-after nonfungible tokens.