Crypto ETFs are among 2022’s worst performers with Bitcoin below $30K

Crypto exchange traded funds have been among the worst performers in the ETF space in 2022. With Bitcoin retreating below $30K and other cryptocurrencies showing an even steeper year-to-date decline, some ETFs have dropped as much as 65% since the end of 2021. Excluding leveraged and inverse funds, the six worst performing ETFs on the year all belong to the crypto sphere. Global X Blockchain (NASDAQ:BKCH) has led the group lower, trading in the red by 65.5% in 2022. Other major crypto losers include: the VanEck Digital Transformation (NASDAQ:DAPP) -64.4%, Bitwise Crypto Industry Innovators (NYSEARCA:BITQ) -62.8%, First Trust SkyBridge Crypto Industry and Digital Economy (CRPT) -62.7%, Viridi Cleaner Energy Crypto-Mining & Semiconductor (RIGZ) -61.1%, and the Defiance Digital Revolution (NFTZ) -57.1%. James Malcolm, head of foreign exchange and crypto research at UBS told Bloomberg: "Crypto ETFs have proliferated like crazy over the past year, with more varieties and cheaper fees, but inflows have been miserable." Malcom