At a glance
DECO charges 0.65% a year, the same as the average of the 8 funds most like it (the 4th cheapest of 9). It has $20.5M in assets, the 8th largest of that group; it paid 0.9% of its price in distributions over the past 12 months, annual. Over the past year it returned +5.7% with distributions reinvested (S&P 500: +11.5%), 2nd of those 9 funds. Its ten largest positions make up 64.1% of the fund, out of 30 in all.
The short version
SPDR Galaxy Digital Asset Ecosystem ETF (DECO), from State Street, owns crypto and blockchain company stocks and can put up to 25% into bitcoin and ether futures or funds. No index sets the holdings: Galaxy Digital, the hired manager, picks stocks and adds or trims crypto exposure based on its economic outlook. The 0.65% yearly fee matches the peer average, but swings are steep: it fell 47.7% from December 2024 to April 2025.
Price history
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DECO +5.7% 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 | |
|---|---|---|---|---|---|---|
| DECO official prospectus, to Dec 31, 2025 | — | +42.66% | — | — | — | +61.21% |
| DECO price data to Oct 27, 2026 | +29.9% | +5.7% | — | — | — | +50.9% |
- Over the year to Oct 27, 2026, DECO returned +5.7%, 2nd of 9 among similar funds.
- Its worst full calendar year was 2025 (+42.5%); its best was 2025 (+42.5%).
- The deepest fall in its price history was 47.7% (Dec 16, 2024 to Apr 8, 2025), recovered by Sep 9, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +29.9% | — |
| 2025 | +42.5% | +42.66% |
| 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 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.5300 |
What's inside
As of Jul 31, 2026, the fund held 30 securities; the ten largest made up 64.07% of assets.
| Holding | Weight | |
|---|---|---|
| Riot Platforms Inc | 12.20% | |
| Keel Infrastructure Corp | 10.57% | |
| Cleanspark Inc | 8.44% | |
| Cipher Digital Inc | 6.98% | |
| Microsoft Corp | 5.32% | |
| NVIDIA Corp | 4.68% | |
| JPMorgan Chase & Co | 4.48% | |
| Applied Digital Corp | 4.44% | |
| Crowdstrike Holdings Inc | 3.65% | |
| Terawulf Inc | 3.31% | |
| Palo Alto Networks Inc | 3.30% | |
| Robinhood Markets Inc | 3.25% | |
| Datadog Inc | 2.38% | |
| Mastercard Inc | 2.34% | |
| Visa Inc | 2.26% |
By country
United States 96.34%Taiwan 1.6%Ireland 1.15%By asset type
Stocks 99.1%By sector
Sectors of the companies held, for the 43.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $62K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +39.67%, +1.84%, -8.65%.
How it works
DECO is actively managed: people pick the holdings rather than copying an index. State Street hires Galaxy Digital Capital Management as sub-adviser to choose them. At least 80% of net assets normally goes into crypto and blockchain businesses (miners, trading platforms, custodians, blockchain software makers) plus futures and exchange-traded products tied to bitcoin and ether. Those crypto-linked products are capped at 25% of assets. Futures and spot products, which hold the coins, sit in a Cayman Islands subsidiary. The fund does not own crypto directly.
Galaxy starts with the economy. When it judges interest rates, money supply and inflation supportive of crypto prices, it adds more of those futures and funds. When not, it leans on stocks to limit losses. Stock picks rest on financial statements, management and governance, plus "on-chain" data, the public record of each blockchain's transactions, fees and mining activity. Galaxy exits a stock when it looks overvalued or its outlook fades. Turnover was 130%, meaning it traded more than its entire portfolio in a year.
As of July 31, 2026, stocks made up 99.1% of assets and cash 0.9%, with no futures or crypto funds. The 10 largest of 30 holdings made up 64% of assets, led by Riot Platforms (12.2%), Keel Infrastructure (10.6%), CleanSpark (8.4%) and Cipher Digital (7.0%), followed by Microsoft and NVIDIA.
What it really costs
- DECO charges 0.65% a year, versus an average of 0.65% for the similar funds below (4th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DECO | $66 | $208 | $362 | $810 |
In a retirement portfolio
With one-year volatility of 49.5% as of October 27, 2026, and a 47.7% peak-to-trough drop in its short life, DECO looks like a small, high-risk add-on rather than a foundation.
DECO could add a concentrated stake in crypto-linked companies, but its record is short. It launched on September 9, 2024, so it has no history through the 2008, 2020 or 2022 downturns, and 2025, a 42.66% gain, is its only full calendar year. Along the way it fell 47.7% from December 16, 2024, to April 8, 2025, and regained its high about five months later, on September 9, 2025. Later it dropped 23.5% in the month to October 27, 2026. Withdrawals during a slide like that would lock in losses near the lows.
Income is minor: a 0.9% trailing yield as of October 27, 2026, paid once a year. Costs are 0.65% a year, or about $66 in the first year on $10,000 under the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting Galaxy Digital to decide when to add bitcoin and ether futures or funds versus crypto-related stocks, rather than tracking an index.
- Investors with a small, high-risk slice for stocks like Riot Platforms, Keel Infrastructure and CleanSpark, who can sit through drops like its 47.7% slide.
- Those wanting an active crypto-stock fund at a middle-of-the-pack 0.65% fee, below BITQ and CRPT at 0.85% but above FDIG's 0.40%.
Look elsewhere if
- Investors wanting direct bitcoin or ether exposure: the fund holds no crypto itself, and its July 31, 2026, report showed only stocks and cash.
- Anyone wanting a tested record: launched in September 2024, it has no history through 2008, 2020 or 2022 and just one full calendar year.
- Income seekers: the trailing yield was 0.9% as of October 27, 2026, paid once a year, so returns rely almost entirely on price changes.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DECO this fund | — | 0.65% | $20.5M | +5.7% | — |
| TEKX SPDR Galaxy Transformative Tech Accelerator… | 74% | 0.65% | $16.0M | +13.0% | — |
| WGMI CoinShares Valkyrie Bitcoin Miners ETF | 36% | 0.75% | $343.6M | -48.6% | +49.2% |
| IBLC iShares Blockchain and Tech ETF | 29% | 0.47% | $88.7M | -38.1% | +38.3% |
| BITQ Bitwise Crypto Industry Innovators ETF | 29% | 0.85% | $411.1M | -29.1% | +46.5% |
| FDIG Fidelity Crypto Industry and Digital Paymen… | 25% | 0.4% | $263.0M | -37.2% | +33.1% |
| CRPT First Trust SkyBridge Crypto Industry & Dig… | 24% | 0.85% | $110.5M | -39.6% | +38.4% |
| DAPP VanEck Digital Transformation ETF | 24% | 0.51% | $345.6M | -40.0% | +42.4% |
Questions investors ask
Does DECO own bitcoin directly?
No. DECO does not hold bitcoin or ether itself. Its prospectus allows up to 25% of assets in bitcoin and ether futures, futures-based ETFs and spot crypto exchange-traded products (which hold the actual coins), with futures and spot products held through a Cayman Islands subsidiary. As of July 31, 2026, though, its holdings report showed 99.1% in stocks, 0.9% in cash and no futures or crypto funds. At that point its crypto exposure came through companies such as Riot Platforms and CleanSpark.
How has DECO performed since it launched?
Strongly but unevenly. According to its prospectus, DECO returned 42.66% in 2025, its only full calendar year, and averaged 61.21% a year from its September 9, 2024, launch through December 31, 2025. Its strongest quarter gained 54.76% (ended June 30, 2025); its weakest lost 24.76% (ended March 31, 2025). By share price, it was up 29.9% in 2026 through October 27, but its one-year return to that date was 5.7%, after a 23.5% drop over the prior month.
What's the difference between DECO and TEKX?
They overlap heavily. Both are SPDR Galaxy ETFs charging 0.65%, and their holdings overlapped by about 74% in the latest holdings reports filed with the SEC. DECO's mandate centers on crypto and blockchain companies and allows up to 25% in bitcoin and ether futures or funds; TEKX's name points to a broader technology theme. As of October 27, 2026, TEKX returned 13% over one year versus 5.7% for DECO. As of July 31, 2026, DECO had $20.5 million in net assets and TEKX $16.0 million.
What is DECO's expense ratio?
DECO's expense ratio, the yearly fee taken from fund assets, is 0.65%, per its prospectus filed February 25, 2026. In the SEC's standard example ($10,000 invested, a 5% yearly return, shares redeemed at the end), costs total about $66 after one year, $208 after three, $362 after five and $810 after ten. That equals the 0.65% average of eight similar funds, ranking it 4th lowest of 9. Fidelity Crypto Industry and Digital Payments ETF (FDIG) charges 0.40%; BITQ and CRPT charge 0.85%.
Does DECO pay dividends?
Yes, but very little, and only once a year. Over the 12 months to October 27, 2026, DECO paid $0.53 per share, a trailing yield of 0.9%. Its stated goal is long-term capital appreciation (growth in share price), not income, so returns depend mostly on how its crypto-linked stocks move. Investors who rely on steady payouts may want to compare dividend- or bond-focused funds, which typically pay more often.