The crypto and blockchain theme basket comes with very high risk
With the listing of Coinbase the size a matureness of the crypto industry has finally reached a level where we can introduce a crypto and blockchain theme basket. The basket is our smallest to date consisting of only 18 companies across segments such as trading exchange, crypto services, crypto mining, investment holdings, blockchain applications, and crypto mining equipment.
Coinbase Global Inc | Crypto exchange | 65,393 | 139.3 | 64.5 | 52.3 | NM |
Signature Bank/New York NY | Bank | 13,236 | 1.7 | 2.1 | 9.8 | 0.24 |
Galaxy Digital Holdings Ltd | Crypto services | 9,025 | NA | 10.6 | -5.1 | 0.49 |
MicroStrategy Inc | Investment firm | 7,051 | -1.1 | 12.7 | -5.0 | 0.54 |
Marathon Digital Holdings Inc | Crypto mining | 4,246 | 267.6 | 11.3 | 16.4 | 0.43 |
Riot Blockchain Inc | Crypto mining | 4,219 | 76.7 | 14.2 | 27.6 | 0.64 |
Silvergate Capital Corp | Bank | 3,320 | NA | 9.0 | 15.6 | 0.60 |
Voyager Digital Ltd | Crypto broker | 3,114 | 2,555.5 | 3,711.2 | 50.6 | 0.23 |
Canaan Inc | Mining equipment | 2,429 | -68.5 | 383.3 | NA | 0.55 |
Monex Group Inc | Financial institution | 2,383 | 21.1 | 3.2 | -15.2 | 0.51 |
Hive Blockchain Technologies Ltd | Crypto mining | 1,279 | 12.5 | 22.1 | NA | 0.59 |
Argo Blockchain PLC | Crypto mining | 1,052 | 1,027.0 | 28.3 | NA | 0.49 |
Hut 8 Mining Corp | Crypto mining | 769 | -50.3 | 6.9 | 70.5 | 0.43 |
Bit Digital Inc | Crypto mining | 685 | NA | 14.8 | NA | 0.35 |
Bitfarms Ltd/Canada | Crypto mining | 636 | 7.0 | 25.3 | 45.7 | 0.57 |
Bitcoin Group SE | Crypto broker | 349 | -44.4 | 9.6 | NA | 0.53 |
Future FinTech Group Inc | Blockchain e-commerce | 274 | NA | 8.0 | NA | 0.24 |
Source: Bloomberg and Saxo Group
The basket does not have a five-year history due to lack of quality names going back five years. Total return has not surprisingly been strong the past year and year-to-date due to the rally in crypto prices, but the basket has recently been a bit under pressure. Since this is an emerging industry and something that is a bit difficult for many investors to grasp, we will soon have a piece out by our crypto analyst going through the different companies in this basket.