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Global X Blockchain & Bitcoin Strategy ETF
Active ETF
BITS
Payout Change
Pending
Price as of:
$83.14
+1.78
+2.19%
primary theme
N/A
BITS (ETF)
Global X Blockchain & Bitcoin Strategy ETF
Payout Change
Pending
Price as of:
$83.14
+1.78
+2.19%
primary theme
N/A
BITS (ETF)
Global X Blockchain & Bitcoin Strategy ETF
Payout Change
Pending
Price as of:
$83.14
+1.78
+2.19%
primary theme
N/A
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
57.3%
1 yr return
138.6%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$25.7 M
Holdings in Top 10
142.1%
52 WEEK LOW AND HIGH
$81.4
$39.02
$83.14
Expenses
OPERATING FEES
Expense Ratio 0.65%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
BITS - Profile
Distributions
- YTD Total Return 57.3%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.9%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameGlobal X Blockchain & Bitcoin Strategy ETF
-
Fund Family NameGlobal X Funds
-
Inception DateNov 15, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPedro Palandrani
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing directly or indirectly in equity securities of U.S. and non-U.S. “Blockchain Companies”, as defined below, and in long positions in U.S. listed bitcoin futures (“Bitcoin Futures”) contracts.As of the date of this Prospectus, the Fund intends to gain exposure to Blockchain Companies by investing indirectly in underlying ETFs holding Blockchain Companies, including the passively-managed affiliated Global X Blockchain ETF.Such investment in underlying ETFs holding Blockchain Companies may be used to provide most, or even all, of the Fund’s exposure to Blockchain Companies, and it is possible that the Fund may or may not invest directly in any Blockchain Companies.Such Bitcoin Futures contracts will be standardized, cash-settled bitcoin futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission (“CFTC”). Currently, the only such contracts are traded on, or subject to the rules of, the Chicago Mercantile Exchange (“CME”). Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Blockchain Companies and in long positions on U.S. listed Bitcoin Futures contracts. Under normal circumstances, the Fund will invest at least 25% of its assets in Blockchain Companies and will have notional exposure to Bitcoin Futures equal to at least 20% of the total assets of the Fund. The Fund's 80% investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed.
The Fund will invest substantially all of its assets in “long” positions in listed Bitcoin Futures contracts and in Blockchain Companies, including indirectly by investment in underlying ETFs holding Blockchain Companies, including the passively-managed affiliated Global X Blockchain ETF. To be “long” means to hold or be exposed to a security or instrument with the expectation that its value will increase over time. The Fund will benefit if it has a long position in a security or instrument that
increases in value. The Fund seeks to gain exposure to Bitcoin Futures, in whole or in part, through investments in a subsidiary organized in the Cayman Islands, namely the Global X Bitcoin Strategy Subsidiary I (the “Global X Subsidiary”). The Global X Subsidiary is wholly-owned and controlled by the Fund. The Fund’s investment in the Global X Subsidiary may not exceed 25% of the Fund’s total assets at each quarter-end of the Fund’s fiscal year. The Fund’s investment in the Global X Subsidiary is intended to provide the Fund with exposure to Bitcoin Futures while enabling the Fund to satisfy source-of-income requirements that apply to regulated investment companies (“RICs”) under the Internal Revenue Code of 1986, as amended (the “Code”). The Fund’s allocation determinations may be informed by a variety of criteria, including, but not limited to, liquidity, open interest/free float market capitalization, regulatory requirements, anticipated cost of carry, correlation to the price movements of bitcoin, other fundamental investment considerations and/or the then-current size of the Fund. For example, the Fund may allocate proportionally greater exposure to Bitcoin Futures during periods where the anticipated cost of carry for Bitcoin Futures is lower, as measured by the time-weighted difference between the trading price of Bitcoin Futures relative to the then-current price of bitcoin, and conversely may allocate proportionally greater exposure to Blockchain Companies during periods where valuation measures, including but not limited, to forward price-to-earnings or price-to-sales ratios within the Blockchain Companies universe present attractive relative value. Except as noted, references to the investment strategies and risks of the Fund include the investment strategies and risks of the Global X Subsidiary.
Bitcoin is a digital asset the ownership and behavior of which are determined by participants in an online, peer-to-peer network that connects computers that run publicly accessible, or “open source,” software that follows an agreed upon set of rules and procedures. This network is referred to as the "Bitcoin network," and the rules and procedures governing the Bitcoin network are commonly referred to as the "Bitcoin protocol". The value of bitcoin, like the value of other digital assets, is not backed by any government, corporation or other identified body. Ownership and the ability to transfer or take other actions with respect to bitcoin is protected through the Bitcoin protocol, which allows bitcoin to be sent to a publicly available address that is generated from a private numerical key, but which prevents anyone other than the holder of such private numerical key from accessing the bitcoin associated with the publicly available address. The supply of bitcoin is constrained or formulated by its protocol instead of being explicitly delegated to an identified body (e.g., a central bank or corporate treasury) to control. Bitcoin and certain other types of digital assets are sometimes referred to as digital currencies or cryptocurrencies. No single entity owns or operates the Bitcoin network, the infrastructure of which is collectively maintained by (1) a decentralized group of participants who run computer software that results in the recording and validation of transactions (commonly referred to as “miners”), (2) developers who propose improvements to the Bitcoin protocol and the software that enforces the protocol and (3) users who choose what Bitcoin software to run. Bitcoin was released in 2009 and, as a result, there is little data on its long-term investment potential. Bitcoin is not backed by a government-issued legal tender. Bitcoin is “stored” or reflected on a blockchain. A blockchain is a distributed, digital ledger that records and stores transaction data of digital assets in units called “blocks”. The Fund will not invest in bitcoin directly.
Blockchain Companies include companies that derive or are expected to derive at least 50% of their revenues, operating income, or assets from the following business activities:
1.Digital Asset Mining: Companies involved in verifying and adding digital asset transactions to a blockchain ledger (e.g. digital asset mining), or that produce technology used in digital asset mining.
2.Blockchain & Digital Asset Transactions: Companies that operate trading platforms/exchanges, custodians, wallets, and/or payment gateways for digital assets.
3.Blockchain Applications: Companies involved in the development and distribution of applications and software services related to blockchain and digital asset technology, including smart contracts.
4.Blockchain & Digital Asset Hardware: Companies that manufacture and distribute infrastructure and/or hardware used in blockchain and digital asset activities.
5.Blockchain & Digital Asset Integration: Companies that provide engineering and consulting services specifically tied to the adoption and utilization of blockchain and digital asset technology.
Blockchain Companies also include U.S.-listed operating companies that directly own a material amount of digital assets.
The Fund may concentrate (i.e., hold 25% or more of its total assets) in investments that provide exposure to bitcoin and Bitcoin Futures. The Fund concentrates its investments (i.e., holds 25% or more of its total assets) in securities of Blockchain Companies, including through its investment in underlying ETFs holding Blockchain Companies, which will include the passively-managed affiliated Global X Blockchain ETF.
The Fund is classified as "non-diversified," which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
BITS - Performance
Return Ranking - Trailing
| Period | BITS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 57.3% | -62.5% | 107.1% | 90.38% |
| 1 Yr | 138.6% | -89.0% | 245.9% | N/A |
| 3 Yr | N/A* | -83.6% | 168.8% | N/A |
| 5 Yr | N/A* | -80.0% | 108.2% | N/A |
| 10 Yr | N/A* | -100.0% | 7.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | BITS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 178.0% | -94.4% | 48.5% | N/A |
| 2022 | -75.6% | -58.5% | 72.8% | N/A |
| 2021 | N/A | -84.2% | 86.0% | N/A |
| 2020 | N/A | -67.0% | 1180.0% | N/A |
| 2019 | N/A | -50.0% | 90.5% | N/A |
Total Return Ranking - Trailing
| Period | BITS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 57.3% | -70.3% | 78.6% | 92.31% |
| 1 Yr | 138.6% | -89.0% | 245.9% | N/A |
| 3 Yr | N/A* | -83.6% | 168.8% | N/A |
| 5 Yr | N/A* | -80.0% | 108.2% | N/A |
| 10 Yr | N/A* | -100.0% | 7.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | BITS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 214.0% | -94.4% | 48.5% | N/A |
| 2022 | -75.5% | -58.5% | 72.8% | N/A |
| 2021 | N/A | -84.2% | 86.0% | N/A |
| 2020 | N/A | -91.8% | 12699.6% | N/A |
| 2019 | N/A | -94.2% | 483.4% | N/A |
BITS - Holdings
Concentration Analysis
| BITS | Category Low | Category High | BITS % Rank | |
|---|---|---|---|---|
| Net Assets | 25.7 M | 161 K | 29.3 B | 57.35% |
| Number of Holdings | 6 | 1 | 34 | 67.31% |
| Net Assets in Top 10 | 37.4 M | 0 | 1.2 B | 34.62% |
| Weighting of Top 10 | 142.09% | 38.4% | 100.0% | 76.00% |
Top 10 Holdings
- GLOBAL X BLOCKCHAIN ETF MUTUAL FUND 50.40%
- CME BITCOIN FUT AUG24 CURRENCY FUTURE. 49.89%
- GLOBAL X 1-3 MONTH T-BILL MUTUAL FUND 30.53%
- TREASURY BILL 0.000000% 10/03/2024 3.76%
- TREASURY BILL 0.000000% 10/08/2024 3.76%
- TREASURY BILL 0.000000% 10/10/2024 3.76%
Asset Allocation
| Weighting | Return Low | Return High | BITS % Rank | |
|---|---|---|---|---|
| Stocks | 80.92% | -0.18% | 100.00% | 21.28% |
| Other | 49.89% | -50.05% | 149.96% | 15.22% |
| Bonds | 11.28% | 0.00% | 158.15% | 59.57% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 50.00% |
| Convertible Bonds | 0.00% | 0.00% | 0.32% | 54.35% |
| Cash | 0.00% | -121.66% | 150.05% | 71.74% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BITS % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 5.98% | 77.78% |
| Technology | 0.00% | 17.04% | 56.23% | 11.11% |
| Real Estate | 0.00% | 0.00% | 3.31% | 66.67% |
| Industrials | 0.00% | 0.00% | 8.28% | 77.78% |
| Healthcare | 0.00% | 0.00% | 13.69% | 77.78% |
| Financial Services | 0.00% | 0.98% | 59.11% | 33.33% |
| Energy | 0.00% | 0.00% | 5.18% | 66.67% |
| Communication Services | 0.00% | 0.00% | 17.03% | 88.89% |
| Consumer Defense | 0.00% | 0.00% | 6.51% | 77.78% |
| Consumer Cyclical | 0.00% | 0.00% | 17.88% | 88.89% |
| Basic Materials | 0.00% | 0.00% | 7.92% | 66.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BITS % Rank | |
|---|---|---|---|---|
| US | 80.92% | -0.18% | 98.52% | 21.74% |
| Non US | 0.00% | 0.00% | 50.45% | 6.52% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BITS % Rank | |
|---|---|---|---|---|
| Derivative | 49.89% | 0.00% | 66.67% | 55.56% |
| Cash & Equivalents | 0.00% | 0.00% | 100.00% | 24.44% |
| Securitized | 0.00% | 0.00% | 12.35% | 55.56% |
| Corporate | 0.00% | 0.00% | 14.43% | 55.56% |
| Municipal | 0.00% | 0.00% | 0.24% | 55.56% |
| Government | 0.00% | 0.00% | 100.00% | 60.00% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BITS % Rank | |
|---|---|---|---|---|
| US | 11.28% | 0.00% | 158.15% | 58.70% |
| Non US | 0.00% | 0.00% | 20.61% | 56.52% |
BITS - Expenses
Operational Fees
| BITS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.65% | 0.50% | 3.00% | 97.01% |
| Management Fee | 0.65% | 0.00% | 3.00% | 10.29% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.05% | 0.25% | N/A |
Sales Fees
| BITS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| BITS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| BITS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 55.00% | N/A |
BITS - Distributions
Dividend Yield Analysis
| BITS | Category Low | Category High | BITS % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.91% | 0.00% | 18.14% | 9.09% |
Dividend Distribution Analysis
| BITS | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| BITS | Category Low | Category High | BITS % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -3.07% | 1.41% | N/A |
Capital Gain Distribution Analysis
| BITS | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jun 27, 2024 | $0.378 | OrdinaryDividend |
| Dec 28, 2023 | $7.053 | OrdinaryDividend |
| Jun 29, 2023 | $0.223 | OrdinaryDividend |
| Dec 29, 2022 | $0.076 | OrdinaryDividend |
| Jun 29, 2022 | $0.017 | OrdinaryDividend |
| Dec 30, 2021 | $1.488 | OrdinaryDividend |
BITS - Fund Manager Analysis
Managers
Pedro Palandrani
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Pedro Palandrani, Associate Vice President and Research Analyst, joined the Adviser in 2019. Prior to joining Global X, Mr. Palandrani held the role of Equity Research Analyst at Cabot Wealth from 2017 to 2019. Mr. Palandrani received his MBA from the Bertolon School of Business at Salem State University in 2018 and his BA from Universidad Católica Andrés Bello (UCAB) in Venezuela in 2013.
Rohan Reddy
Start Date
Tenure
Tenure Rank
Mar 01, 2022
0.25
0.3%
Rohan Reddy, CFA Vice President and Research Analyst, joined the Adviser in 2015. Mr. Reddy received his BA from New York University (NYU) in 2015.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 16.86 | 3.85 | 0.05 |
