Amplify Transformational Data Sharing ETF

Amplify Transformational Data Sharing ETF (BLOK) is an actively managed fund holding about 53 stocks of companies tied to blockchain, the shared digital ledger technology behind cryptocurrencies. It is the largest of nine similar blockchain ETFs, with $1.16 billion in net assets as of June 30, 2026, but its 0.70% expense ratio is above the 0.57% peer average. It also swings sharply: it lost about 62% in 2022, then nearly doubled in 2023.

• Over the year to Oct 27, 2026, BLOK returned -24.6%, 2nd of 9 among similar funds.
• Its 5-year annualized return was +5.1%.
• In the 2020 COVID crash it fell 32.6% and regained its old high 2.5 months after the low.
• Its worst full calendar year was 2022 (-62.4%); its best was 2023 (+99.5%).
• The deepest fall in its price history was 73.2% (Nov 8, 2021 to Dec 28, 2022), recovered by May 21, 2025.

As of Jun 30, 2026, the fund held 53 securities; the ten largest made up 37.58% of assets, and 21.97% sat in cash and money-market holdings.

• Over the three months to Jun 30, 2026, investors withdrew a net $9.9M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +19.47%, +14.49%, -7.61%.

BLOK does not track an index. Sub-adviser Tidal Investments picks the holdings for issuer Amplify Investments. The fund must keep at least 80% of its net assets in stocks of companies actively involved in developing or using blockchain. The managers judge that involvement by whether a company commits real resources in at least one of four ways. It can research or test the technology. It can profit from uses such as transaction data, cryptocurrency or supply-chain tracking. It can partner with or invest in blockchain companies. Or it can belong to several blockchain industry groups.

Each stock must trade on a regulated exchange and pass size and trading screens. At least 90% of US holdings need a market value of at least $75 million, and foreign holdings need at least $100 million. Each stock must also trade at least 250,000 shares or $25 million a month, averaged over six months. Companies earning significant direct revenue from blockchain are labeled "Core." Those that invest, partner or join industry groups are labeled "Secondary." The managers aim for roughly 80% Core and 20% Secondary.

The prospectus sets no fixed weighting formula or rebalancing schedule. The managers buy, sell and reweight holdings when they see mispricing, and portfolio turnover was 50%. The fund can own foreign stocks and depositary receipts. It can get cryptocurrency exposure only indirectly, through other investment funds, and the tax treatment of that exposure is uncertain.

• BLOK charges 0.7% a year, versus an average of 0.57% for the similar funds below (7th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $72 in the first year and $871 over 10 years (assuming a 5% annual return).

Its focus on crypto-linked stocks, 40.8% one-year volatility and a 73% peak-to-trough drop make it a small, high-risk add-on rather than a foundation.

BLOK dropped about 33% in the 2020 COVID crash but recovered by June 2020. In the 2022 bear market it fell 55% and took about two years, until July 2024, to recover. Its worst calendar year was 2022, down about 62%. Its deepest drop, 73% from November 2021 to December 2022, was not made back until May 2025. It launched in 2018, so it has no 2008 record. Anyone forced to sell in a year like 2022 would have locked in steep losses.

Income is small: the yield was 0.9% as of October 27, 2026, paid twice a year. Costs are above average at 0.70%. In the SEC's standard example, that comes to $72 for the first year and $871 over 10 years on $10,000. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.