Cryptocurrencies
Crypto and Dry Bulk ETFs Are Deadlocked for 2022’s Biggest Loser
- BDRY, RIGZ both nearly 70% lower as Fed hikes interest rates
- Still, four worst-performing ETFs are sitting on net inflows
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A historically aggressive Federal Reserve has put some of the exchange-traded fund industry’s previous high fliers in a race to the bottom.
The three worst performances this year among non-leveraged ETFs all belong to crypto funds, with the $6 million Viridi Bitcoin Miners ETF (RIGZ) claiming the top spot amid a nearly 69% nosedive. The $46 million Breakwave Dry Bulk Shipping ETF (ticker BDRY) -- which tracks a basket of dry bulk freight futures -- is sitting in fourth with a 67% plunge, after soaring 283% in 2021 as supply chains choked.