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Sunday, August 23, 2026The Morning Brief →Sign in

Invesco Alerian Galaxy Crypto Economy ETF

$17.89+3.95% today
13.453052-WK

The fund generally will invest at least 80% of its total assets in the securities that comprise the underlying index. The underlying index, which is comprised of two different components: (i) stocks of digital asset companies, which are companies that are materially engaged in cryptocurrency mining, cryptocurrency buying, or cryptocurrency enabling technologies; and (ii) ETPs and private investment trusts traded over-the-counter that invest at least 75% of their assets in Bitcoin. The fund is non-diversified.

Price & daily flows
26.821.917.1017.89DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN · NET −$1M OVER THIS RANGE

The desk’s read

Flows are quiet — the past month netted out near zero, while the price has returned -4.7% so far this year. At 0.60% a year it is not the cheapest way in — IEFA runs the same ground at 0.07%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$14Massets under management
0.60%expense ratio · $60 per $10,000 a year
net flow, trailing month
1Kavg daily volume, 30 days
47holdings
2021listed October 6, 2021 · beta 2.75
The book at a glance
NAKA+12.1%BMNR+5.8%SBET+4.2%ASST+13.0%CRCL+5.2%ABTC-6.4%BTGO+3.6%BTCS+3.1%MSTR+6.1%XXI+4.8%BLSH+6.9%COIN+8.2%CAN+27.3%BKKT+14.5%GEMI+3.4%IREN-1.7%GLXY+0.7%CLSK-4.9%FRMM-6.3%RIOT-5.5%HIVE-3.2%MARA+1.0%BTDR+9.0%ETOR+2.2%HUT-8.8%KEEL-1.5%CIFR-8.4%WULF-4.9%PYPL-1.2%MSFT+0.4%DJT+6.9%XYZ+2.6%V+1.5%SOFI+5.5%GS+3.7%TSMHOOD

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1NAKAKindly MD3.54%$7.06+12.1%
2BMNRBitMine Immersion Technologies3.14%$22.83+5.8%
3SBETSHARPLINK GAMING3.05%$7.91+4.2%
4ASSTASSET ENTITIES2.74%$18.22+13.0%
5CRCLCircle Internet Group2.84%$87.98+5.2%
6ABTCAmerican Bitcoin Corp3.03%$7.93-6.4%
7BTGOBitGo2.69%$6.84+3.6%
8BTCSBTCS2.64%$1.35+3.1%
9MSTRMICROSTRATEGY2.56%$119.25+6.1%
10XXITwenty One Capital2.54%$6.49+4.8%
11BLSHBullish2.45%$30.41+6.9%
12COINCOINBASE GLOBAL2.33%$186.49+8.2%
13CANCANAAN1.93%$0.35+27.3%
14BKKTBAKKT HOLDINGS1.92%$8.59+14.5%
15GEMIGEMINI SPACE STATION INC2.08%$4.28+3.4%

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Sector weights
Financial Services61.88%
Technology Services51.38%
Technology32.29%
Mutual fund19.31%
Other17.74%
Finance10.42%
Commercial Services9.98%
Electronic Technology7.39%
Communication Services2.86%
Consumer Cyclical1.98%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
United States55.27%
Other15.46%
Canada14.92%
Hong Kong6.11%
Germany5.46%
China4.24%
Australia3.38%
United Kingdom2.91%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week+14.6%
1 month+9.7%
3 months-4.9%
6 months+14.9%
YTD-4.7%
1 year-15.7%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week
1 month
3 months
YTD
1 year−$1M

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows
NovDecJanFebMarAprMayJunJulAugSepOct
DAILY CREATION/REDEMPTION RECORDS, TRAILING TWELVE MONTHS
The risk read
55%realized volatility, 30 days (annualized)
54%realized volatility, 1 year
-55.8%deepest fall from a peak, 1 year
-41.2%where it sits vs. that peak today

The top holding is 3.5% of the book; the top ten carry 29%. Spread across 53+ names, it behaves like roughly 40 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
calls today
puts today
put/call ratio
shares traded
Most-traded holdings, options premiumBullishBearish
TSLA TESLA$842M$785M
MSTR MICROSTRATEGY$593M$571M
NVDA NVIDIA$348M$395M
AMD ADVANCED MICRO DEVICES$201M$188M
COIN COINBASE GLOBAL$197M$180M

TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES

The case against SATO

Due diligence cuts both ways. These funds sit on the same shelf and beat SATO on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
IBIT iShares Bitcoin Trust0.12%$64.8B-48bp on fee · 4617× the assetsHead-to-head
EWN iShares MSCI Netherlands ETF0.50%$745M+$142M-10bp on fee · 53× the assets · +$142M in over the monthHead-to-head
FBTC FIDELITY WISE ORIGIN BITCOIN FUND$7.8B553× the assetsHead-to-head
BITO ProShares Bitcoin Strategy ETF0.95%$1.8B125× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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