Valkyrie Bitcoin Mining ETF Topped Gainers Last Week
WGMI added 13% last week as DAPP, which invests in similar companies, was second with an 11% gain.
An ETF that invests in companies that derive at least half their revenue from mining bitcoin or provide mining services gained the most among exchange-traded funds last week—yet another sign of investors' growing interest in cryptocurrency.
The Valkyrie Bitcoin Miners ETF (WGMI), which has $93 million in assets under management, climbed more than 13%. The VanEck Digital Transformation ETF (DAPP), whose largest holdings include bitcoin miners like MicroStrategy Inc., itself an owner of about $14 billion in bitcoin, rose 11%. DAPP has $111 million in AUM.
Those gains came despite a swoon in bitcoin's price, which dropped to $61,500 on March 19, just five days after the largest cryptocurrency by market value hit an all-time high over $73,300, according to CoinMarketCap, a provider of crypto markets data. And the funds' jump occurred even as inflows to spot bitcoin ETFs slowed for the first time in weeks.
The world's largest ETF, the SPDR S&P 500 ETF Trust (SPY) dwarfed all funds for inflows, while the iShares Core S&P 500 ETF (IVV) had by far the most outflows.
SPY, which has incurred massive outflows for months, generated more than $24 million in inflows for the week. The technology-heavy Invesco QQQ Trust (QQQ) had $2.4 million in inflows, the second most over the same period.
IVV had $18.4 million in weekly redemptions, while the Schwab U.S. Dividend Equity ETF (SCHD) lost about $9.5 million in outflows, the second most for the period.
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| WGMI | Valkyrie Bitcoin Miners ETF | 13.13% | 1,413,478 | 92.72 |
| DAPP | VanEck Digital Transformation ETF | 10.94% | 1,705,881 | 111.22 |
| CRPT | First Trust SkyBridge Crypto Industry and Digital Economy ETF | 10.46% | 388,538 | 56.29 |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 9.80% | 495,657 | 100.18 |
| IBLC | iShares Blockchain and Tech ETF | 9.73% | 64,832 | 23.03 |
| BITQ | Bitwise Crypto Industry Innovators ETF | 9.35% | 637,551 | 140.15 |
| GFOF | Grayscale Future of Finance ETF | 8.67% | 9,821 | 7.24 |
| MSTY | YieldMax MSTR Option Income Strategy ETF | 8.65% | 628,251 | 29.93 |
| CONY | YieldMax COIN Option Income Strategy ETF | 7.62% | 2,155,812 | 384.01 |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 7.18% | 41,631 | 9.38 |
Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
