At a glance
IBLC charges 0.47% a year, below the 0.58% average of the 8 funds most like it (the 3rd cheapest of 9). It has $88.7M in assets, the 8th largest of that group; it paid 6.69% of its price in distributions over the past 12 months, annual. Over the past year it returned −38.1% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +38.3% a year. Its ten largest positions make up 60.1% of the fund, out of 48 in all.
The short version
iShares Blockchain and Tech ETF (IBLC) is a BlackRock index fund that tracks the NYSE FactSet Global Blockchain Technologies Index. The index holds stocks of crypto miners, crypto exchanges and the chipmakers that supply them. The fund owns company shares, not cryptocurrency. Its 0.47% expense ratio is below the 0.58% average of similar funds. It is also small, concentrated and very volatile: it fell 62.5% in 2022 before recovering.
Price history
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IBLC -38.1% 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 | |
|---|---|---|---|---|---|---|
| IBLC official prospectus, to Dec 31, 2025 | — | +27.78% | — | — | — | +16.94% |
| M S C I All Country World Index Net index, same period | — | +22.34% | — | — | — | +13.83% |
| N Y S E Fact Set Global Blockchain Technologies Index Net index, same period | — | +27.88% | — | — | — | +16.66% |
| IBLC price data to Oct 27, 2026 | -6.5% | -38.1% | +38.3% | — | — | +13.1% |
- Over the year to Oct 27, 2026, IBLC returned -38.1%, 4th of 9 among similar funds.
- Its worst full calendar year was 2024 (+18.6%); its best was 2023 (+201.5%).
- The deepest fall in its price history was 62.5% (May 4, 2022 to Dec 28, 2022), recovered by Jul 13, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -6.5% | — |
| 2025 | +26.9% | +27.78% |
| 2024 | +18.6% | +18.06% |
| 2023 | +201.5% | +201.77% |
| 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 | $2.5800 | +377.8% |
| 2024 | $0.5400 | +3.8% |
| 2023 | $0.5200 |
What's inside
As of Jun 30, 2026, the fund held 48 securities; the ten largest made up 60.13% of assets. It also reported 28.27% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| COINBASE GLOBAL, INC. | 11.76% | |
| IREN LIMITED | 7.81% | |
| HUT 8 CORP. | 6.19% | |
| Circle Internet Group Inc | 6.14% | |
| ADVANCED MICRO DEVICES, INC. | 5.09% | |
| APPLIED DIGITAL CORPORATION | 5.08% | |
| RIOT PLATFORMS, INC. | 5.01% | |
| TERAWULF INC. | 4.46% | |
| CIPHER DIGITAL INC. | 4.32% | |
| MASTERCARD INCORPORATED | 4.27% | |
| CORE SCIENTIFIC, INC. | 4.05% | |
| INTERNATIONAL BUSINESS MACHINES CORPORATION | 4.03% | |
| NVIDIA CORPORATION | 3.99% | |
| BITMINE IMMERSION TECHNOLOGIES, INC. | 3.96% | |
| Tencent Holdings Limited | 3.90% |
By country
United States 81.13%Australia 7.81%Cayman Islands 6.45%Germany 1.96%China 0.99%By asset type
Stocks 99.77%Other 0.12%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +22.60%, +23.72%, -13.66%.
How it works
IBLC tracks the NYSE FactSet Global Blockchain Technologies Index, which is run by ICE Data Indices. The index starts with stocks from 43 countries that are worth at least $100 million and trade at least $1 million a day on average. "Tier 1" companies earn 50% or more of their revenue from blockchain businesses such as crypto mining, crypto exchanges and mining hosting. "Tier 2" adds chipmakers whose graphics processors (GPUs) are used for mining, plus firms with blockchain side businesses. The index holds at least 35 stocks, including every Tier 1 name and at least 10 Tier 2 names.
Stocks are weighted by float-adjusted market value, meaning the value of shares available to the public. Tier 1 stocks get at least 75% of the index in total. Each Tier 1 stock is capped at 12% and each Tier 2 stock at 4%. Stocks weighing more than 4.5% may not add up to more than 45%. Thinly traded Tier 1 stocks are sized by trading volume instead. The stock list is rebuilt each March and September, and weights are reset every quarter. Portfolio turnover was 69%.
BlackRock uses representative sampling. This means the fund may hold a sample of stocks that behaves like the index rather than every stock in it. The fund does not own cryptocurrency, either directly or through derivatives. It may use derivatives such as futures to adjust its exposure to the index's stocks.
What it really costs
- IBLC charges 0.47% a year, versus an average of 0.58% for the similar funds below (3rd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $48 in the first year and $591 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IBLC | $48 | $151 | $263 | $591 |
In a retirement portfolio
Its narrow focus on the crypto industry and drops of more than 60% make it a small add-on at most, not a foundation.
IBLC launched in April 2022. It has no record from the 2008 or 2020 crashes, and it missed the start of the 2022 bear market. Even so, it fell 62.5% from May 4 to December 28, 2022, and did not recover until July 13, 2023. Every full calendar year since has been positive, ranging from 18.06% in 2024 to 201.77% in 2023. Still, it lost 27.55% in the quarter ended March 31, 2025, and 38.1% in the year to October 27, 2026. Someone who has to cash out shares during a slump could lock in deep losses.
The fund pays out once a year. Its trailing yield was 6.69% as of October 27, 2026, but a single annual payout can vary widely. The 0.47% expense ratio is below the 0.58% average for similar funds. 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 stock exposure to crypto companies such as Coinbase, IREN and Riot Platforms without holding cryptocurrency directly.
- Cost-conscious investors in this theme: the 0.47% expense ratio ranks third-lowest of nine similar funds and is below the 0.58% average.
- Those who can keep a small position through drops like the 62.5% fall in 2022 without needing that money.
Look elsewhere if
- Anyone who needs steady values: three-year volatility was 61.9%, and the fund lost 38.1% in the year to October 27, 2026.
- Investors seeking the lowest-cost crypto-industry fund: Schwab Crypto Thematic ETF (STCE) charges 0.30% and Fidelity's FDIG charges 0.40%.
- Those wanting broad diversification: the top 10 holdings were 60% of assets as of June 30, 2026, with Coinbase alone near 12%.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IBLC this fund | — | 0.47% | $88.7M | -38.1% | +38.3% |
| BKCH Global X Blockchain ETF | 65% | 0.5% | $277.7M | -49.6% | +38.2% |
| DAPP VanEck Digital Transformation ETF | 61% | 0.51% | $345.6M | -40.0% | +42.4% |
| BITQ Bitwise Crypto Industry Innovators ETF | 59% | 0.85% | $411.1M | -29.1% | +46.5% |
| FDIG Fidelity Crypto Industry and Digital Paymen… | 52% | 0.4% | $263.0M | -37.2% | +33.1% |
| WGMI CoinShares Valkyrie Bitcoin Miners ETF | 43% | 0.75% | $343.6M | -48.6% | +49.2% |
| STCE Schwab Crypto Thematic ETF | 43% | 0.3% | $269.5M | -48.6% | +39.1% |
| BLOK Amplify Transformational Data Sharing ETF | 40% | 0.73% | $1.16B | -24.6% | +42.9% |
Questions investors ask
Does IBLC hold bitcoin or other crypto?
No. The prospectus says the fund will not invest in cryptocurrency, either directly or through derivatives. It owns stocks of companies tied to blockchain. As of June 30, 2026, the largest was Coinbase at 11.8% of assets, followed by IREN, Hut 8, Circle Internet Group and Riot Platforms. It also holds chipmakers AMD and Nvidia. Miners and exchanges earn money from crypto activity, so the fund can still rise and fall sharply with crypto prices.
What's the difference between IBLC and BKCH?
They are close cousins: about 65% of their holdings overlap. IBLC charges 0.47% a year, while the Global X Blockchain ETF (BKCH) charges 0.50%. BKCH is larger, with $277.7 million in net assets as of August 31, 2026, against $88.7 million for IBLC as of June 30, 2026. In the year to October 27, 2026, IBLC lost 38.1% and BKCH lost 49.6%. Their three-year annualized returns were nearly identical, at 38.3% and 38.2%.
What is IBLC's expense ratio?
IBLC's expense ratio is 0.47% a year, according to its prospectus filed July 27, 2026. There is no fee waiver. The SEC's standard example assumes $10,000 invested, a 5% yearly return and shares cashed out at the end of each period. On that basis, total costs would be about $48 after one year, $151 after three, $263 after five and $591 after ten. Similar funds average 0.58%, though STCE (0.30%) and FDIG (0.40%) cost less.
Does IBLC pay dividends?
Yes, but only once a year. Over the 12 months to October 27, 2026, it paid $2.56 per share, a trailing yield of 6.69%. A single annual payout can change a great deal from one year to the next, so that figure may not repeat. The fund is built to give exposure to the blockchain industry, not to provide steady income.
Is IBLC a good long-term investment?
It has a short and bumpy record. From its April 2022 launch through December 31, 2025, it returned 16.94% a year on average. That beat the MSCI All Country World Index, which returned 13.83%. But it fell 62.5% in 2022. Its one-year beta of 3.1 means it moved about three times as much as the broad market. With about 4.5 years of history, the record says little about how it may hold up over decades.