Betashares Crypto Innovators ETF (ASX:CRYP) Had A Crushing 200% Gain In 2023

After a particularly strong second half, Betashares Crypto Innovators ETF (ASX: CRYP) took the number one slot for performance, with a total return of 215% for the year. We take a look at CRYP, and see how it has performed to date in 2024.

CRYP provides focused exposure to companies involved in servicing crypto-asset markets or that have material investments in crypto-assets.

Betashares warns that ‘an investment in CRYP should be considered very high risk.’

Crypto-assets are highly speculative in nature and companies with significant exposure to crypto-asset markets can be expected to have a very high level of return volatility.

What makes this ETF different

CRYP invests in companies that provide ‘picks and shovels’ to leading companies building crypto mining equipment, crypto trading venues, and other key services.

The companies are leaders in the sector include Coinbase, Riot Blockchain, and Microstrategy.

Overview

The ETF has Net assets of $114,044,274 with a Management Fee of 0.67% for this Passive Category ETF.

The crypto economy has been growing, aided by the performance of Bitcoin, Ethereum, and other digital assets over the past ten years.

Performance

With a gain of that magnitude last year, holders have witnessed that “very high level of volatility” to date in 2024. From the peak in 2023, it has been a bumpy ride for CRYP investors.

CRYP dropped in January but regained some ground in February.

Looking back, CRYP registered the biggest price fall in Australia in 2022 as the crypto-asset sector took a pounding.

Conclusion

In theory, purchasing stocks that provide the goods, services, or technology needed for an industry may entail lower risk by investing in suppliers rather than the upstream stocks.

CRYP will have its crypto-asset followers prepared to invest for the long-term upside and hopefully not be too concerned about very high ETF price volatility.

Remember

The risk and return profile is extremely high for CRYP and is highly speculative. This information is for general purposes only and does not constitute financial advice. Please consult your financial advisor before making any investment decisions.

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