At a glance
BKCH charges 0.5% a year, below the 0.58% average of the 8 funds most like it (the 4th cheapest of 9). It has $389.7M in assets, the 3rd largest of that group; it paid 2.21% of its price in distributions over the past 12 months, annual. Over the past year it returned −49.6% with distributions reinvested (S&P 500: +11.5%), the weakest of those 9 funds; over three years it returned +38.2% a year. At its worst it fell 77.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 39 months after the low. Its ten largest positions make up 70.1% of the fund, out of 36 in all.
The short version
Global X Blockchain ETF (BKCH) is an index fund that tracks the Solactive Blockchain Index. The index holds companies that get most of their business from blockchain and digital asset work, such as mining, exchanges and related hardware. The fund owns stocks, not cryptocurrencies. It is concentrated and very volatile: it lost 85% in 2022 and gained 271% in 2023. Its 0.50% expense ratio is a little below the 0.58% average of similar funds.
Price history
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BKCH -49.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BKCH official prospectus, to Dec 31, 2025 | — | +27.25% | — | — | — | -6.15% |
| BKCH price data to Oct 27, 2026 | -13.7% | -49.6% | +38.2% | -10.9% | — | -10.7% |
- Over the year to Oct 27, 2026, BKCH returned -49.6%, 9th of 9 among similar funds.
- Its 5-year annualized return was -10.9%.
- Its worst full calendar year was 2022 (-85.1%); its best was 2023 (+267.4%).
- The deepest fall in its price history was 91.8% (Nov 9, 2021 to Dec 28, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -13.7% | — |
| 2025 | +27.2% | +27.25% |
| 2024 | +19.1% | +18.52% |
| 2023 | +267.4% | +270.95% |
| 2022 | -85.1% | -85.23% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 74.6% over that stretch · deepest drop along the way 77.1%, back to its old high 38.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $1.2800 | -67.2% |
| 2024 | $3.9000 | +261.1% |
| 2023 | $1.0800 | +620.0% |
| 2022 | $0.1500 |
What's inside
As of May 31, 2026, the fund held 36 securities; the ten largest made up 70.11% of assets.
| Holding | Weight | |
|---|---|---|
| IREN LIMITED | 12.56% | |
| Circle Internet Group Inc | 11.35% | |
| COINBASE GLOBAL, INC. | 9.47% | |
| Bitmine Immersion Technologies Inc | 6.27% | |
| HUT 8 CORP. | 5.86% | |
| RIOT PLATFORMS, INC. | 5.24% | |
| CLEANSPARK, INC. | 5.16% | |
| APPLIED DIGITAL CORPORATION | 4.87% | |
| CIPHER DIGITAL INC. | 4.68% | |
| BNYREPOS RA | 4.65% | |
| CORE SCIENTIFIC, INC. | 4.63% | |
| TERAWULF INC. | 4.60% | |
| MARA HOLDINGS, INC. | 4.45% | |
| GALAXY DIGITAL INC. | 4.09% | |
| Bitdeer Technologies Group | 2.94% |
By country
United States 92.84%Canada 10.17%Hong Kong 0.93%Germany 0.6%By asset type
Stocks 99.89%RA 4.65%What changed recently
- Over the three months to May 31, 2026, investors added a net $35.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +24.64%, +32.42%, -10.50%.
How it works
Global X runs the fund, and Mirae Asset Global Investments owns Global X. The fund aims to match the Solactive Blockchain Index before fees. It puts at least 80% of its assets in the index's stocks or in depositary receipts. These are certificates that let investors own foreign shares on a US exchange. Solactive counts a company as a "Blockchain Company" if at least 50% of its revenue, operating income or assets comes from five areas: digital asset mining, trading platforms and custody, blockchain software, blockchain hardware, or blockchain consulting.
To build the index, Solactive uses natural language processing software. The software reads filings, earnings call transcripts and other public documents to find and rank companies tied to blockchain. Solactive then checks the top-ranked names against the revenue test. Companies must also meet size and trading rules: as of January 31, 2026, a market value of at least $50 million. If fewer than 25 companies qualify, firms with smaller blockchain revenue, or none yet, can join. Together those firms are capped at 10% at each twice-yearly rebalance.
The fund doesn't buy cryptocurrencies, either directly or through derivatives. Still, many of its holdings rise and fall with crypto prices. As of May 31, 2026, it held 36 positions, and the ten largest made up 70% of assets. IREN (12.6%), Circle Internet Group (11.4%) and Coinbase Global (9.5%) led the list. The fund may lend up to one-third of its assets to earn extra income. The prospectus reports portfolio turnover of 58%.
What it really costs
- BKCH charges 0.5% a year, versus an average of 0.58% for the similar funds below (4th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BKCH | $51 | $160 | $280 | $628 |
In a retirement portfolio
BKCH is a narrow, concentrated bet on blockchain stocks, with swings far larger than the broad market's, so it fits only as a small part of a portfolio.
BKCH launched in July 2021, so it has no record from the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 77% between January 3 and June 30, 2022. It took about 39 months, until September 2025, to climb back. Its deepest drop was 92%, from November 2021 to December 2022, and it had not regained that peak as of October 27, 2026. Anyone who had to sell shares in a year like 2022, when it lost 85%, would have locked in heavy losses. The fund pays once a year, with a 2.21% trailing yield as of October 27, 2026, so it is not a steady income source. In the SEC's standard example, costs on $10,000 are $51 for the first year and $628 over 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want blockchain exposure through stocks such as Coinbase and Circle, without owning cryptocurrency directly
- Investors who can keep a small position through drops like the 92% fall from November 2021 to December 2022
- Thematic investors who watch costs: its 0.50% expense ratio is below BITQ's 0.85% and BLOK's 0.73%
Look elsewhere if
- Retirees who may need to sell in a downturn: it lost 85% in 2022 and fell 49.6% in the year to October 27, 2026
- Income seekers: it pays only once a year, with a 2.21% trailing yield as of October 27, 2026
- Investors who want the lowest cost: Schwab's STCE charges 0.30% and Fidelity's FDIG charges 0.40% for a similar strategy
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BKCH this fund | — | 0.5% | $389.7M | -49.6% | +38.2% |
| DAPP VanEck Digital Transformation ETF | 72% | 0.51% | $345.6M | -40.0% | +42.4% |
| IBLC iShares Blockchain and Tech ETF | 69% | 0.47% | $88.7M | -38.1% | +38.3% |
| BITQ Bitwise Crypto Industry Innovators ETF | 66% | 0.85% | $411.1M | -29.1% | +46.5% |
| FDIG Fidelity Crypto Industry and Digital Paymen… | 53% | 0.4% | $263.0M | -37.2% | +33.1% |
| STCE Schwab Crypto Thematic ETF | 52% | 0.3% | $269.5M | -48.6% | +39.1% |
| WGMI CoinShares Valkyrie Bitcoin Miners ETF | 51% | 0.75% | $343.6M | -48.6% | +49.2% |
| SATO Invesco Alerian Galaxy Crypto Economy ETF | 38% | 0.6% | $6.9M | -43.8% | +36.6% |
Questions investors ask
Does BKCH own bitcoin?
No. The prospectus says the fund will not invest in cryptocurrencies or other digital assets, either directly or through derivatives. Instead, it owns shares of companies that get most of their business from blockchain work, such as digital asset mining, exchanges, custody and hardware. These companies often move with crypto prices, so the fund can swing sharply when bitcoin does. They also carry their own risks, such as government regulation and short operating histories.
Is BKCH a good investment for retirement?
It fits better as a small, higher-risk side holding than as a core one. The fund lost 85% in 2022 and gained 271% in 2023. As of October 27, 2026, its one-year volatility was 77%. Its deepest drop, 92% from November 2021 to December 2022, had still not been made up by that date. Someone who may need to sell shares in a bad year could take large losses. Past results don't predict future ones.
What's the difference between BKCH and DAPP?
Not much in holdings or cost. About 72% of their holdings overlap, based on the latest N-PORT reports. BKCH charges 0.50% a year and VanEck Digital Transformation ETF (DAPP) charges 0.51%. Both follow a blockchain-stock strategy. As of October 27, 2026, DAPP's one-year price return was -40%, compared with -49.6% for BKCH. Over three years, DAPP returned 42.4% a year and BKCH 38.2%.
Does BKCH pay dividends?
Yes, but only once a year, and the amount can change. In the 12 months to October 27, 2026, it paid $1.22 per share, a trailing yield of 2.21%. The fund's main purpose is growth exposure to blockchain companies, not income. One payment a year, combined with very large price swings, makes it hard to rely on for regular retirement cash flow.
What are BKCH's top holdings?
As of May 31, 2026, its largest positions were IREN (12.6%), Circle Internet Group (11.4%), Coinbase Global (9.5%), Bitmine Immersion Technologies (6.3%), Hut 8 (5.9%), Riot Platforms (5.2%) and CleanSpark (5.2%). The fund held 36 positions, and the ten largest made up about 70% of assets, so a handful of companies drive most of its results. Net assets were about $390 million on that date.