Three blockchain and cryptocurrency-linked exchange-traded funds have surged into the market's top decile as momentum scores spiked sharply this week, suggesting these funds may be on the cusp of a breakout rally.
What Does Momentum Ranking Entail?
Benzinga Edge’s Stock Rankings‘ momentum percentile rankings assess a stock or ETF's relative strength by evaluating its price movement patterns and volatility across multiple timeframes, benchmarked against the entire universe of sector peers.
The percentile value signals how far above or below the median an asset's recent performance lies, with dramatic increases flagging a strong surge in market attention and potential.
3 Crypto ETFs Poised To Surge
The Bitwise Crypto Industry Innovators ETF (NYSE:BITQ), VanEck Digital Transformation ETF (NASDAQ:DAPP), and Bitwise Web3 ETF (NYSE:BWEB) each displayed notable week-on-week momentum percentile improvements, positioning them as the most compelling crypto ETF gainers in September's momentum rankings.
Bitwise Crypto Industry Innovators ETF
- BITQ saw its momentum score leap from 88.69 last week to the 92.16th percentile this week, a gain of 3.47 percentage points.
- With assets under management (AUM) of $356.53 million, this jump into the top 10th percentile reflects renewed buying demand and heightened interest, likely driven by optimism around blockchain technology adoption and recent crypto asset price rebounds.
- The ETF has gained 34.76% year-to-date and 92.88% over a year.
- It maintains a stronger price trend over the short, medium, and long terms with a five-star fund score. Additional performance details are available here.
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VanEck Digital Transformation ETF
- DAPP's score also climbed decisively, up from 89.89 to the 93.45th percentile, for an increase of 3.56 percentage points.
- Hailing an AUM of $316.11 million, the fund is taking advantage of improving sentiment in the wider digital asset space, with leadership moves in both established and emerging crypto stocks sparking momentum-driven allocations.
- Higher by 37.91% YTD, the ETF surged 92.51% over the year.
- It maintains a stronger price trend over the short, medium, and long terms with a five-star fund score. Additional performance details are available here.
Bitwise Web3 ETF
- BWEB notched a momentum jump from 89.22 to the 90.34th percentile, representing a week-over-week gain of 1.12 percentage points.
- While slightly less dramatic, with a $4.95 million AUM, this rise pushes BWEB comfortably above the critical top decile threshold, signaling growing prominence for Web3 investments among institutional and retail buyers.
- The ETF has advanced by 40.21% YTD and 78.63% over the year.
- It maintains a stronger price trend over the short, medium, and long terms with a five-star fund score. Additional performance details are available here.
What The Data Signals For Crypto ETF Investors
A large week-on-week momentum percentile gain means these ETFs are outperforming the vast majority of sector peers based on sustained price action and volatility. Such gains, especially when breaking into the top decile, often precede sharp rallies or periods of intense speculative interest.
Price Action
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, ended lower on Tuesday. The SPY was down 0.14% at $660.00, while the QQQ declined 0.085% to $591.18, according to Benzinga Pro data.
On Wednesday, the futures of the Dow Jones, S&P 500, and Nasdaq 100 indices were lower.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga
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