This Blockchain ETF Just Hit a 52-Week High

Bitcoin and other digital currencies have enjoyed a resurgence in the summer of 2020. They have not managed to keep up with safe havens like gold, but their improved performance is still notable. Moreover, blockchain-linked stocks are putting together a very good summer. Today, I want to look at one blockchain ETF that just hit a 52-week high.

Blockchain Technologies ETF (TSX:HBLK) seeks to invest in a cross section of large-cap established companies and stand alone blockchain firms. Its shares have soared 108% in 2020 as of close on July 29. This came after a 21% increase in 2019.

The top holding in the ETF is, which is an American internet retailer. Earlier this month, Overstock CEO Jonathan Johnson penned an opinion piece that said blockchain technology development could be key in climbing out of the COVID-19 recession.

He predicted that the technology would grow best in a free environment without harsh regulations.

Going forward, the second-largest holding in the fund is Parateum Corporation. This company provides mobile networking software and services. Rounding out the top three is DocuSign, a San Francisco-based company.

The blockchain received attention during Bitcion’s original run as its enthusiasts boasted about its ability to streamline document signing. DocuSign offers a way to sign electronically on different devices, which has proven essential during this destructive pandemic.

Investors who want access to this explosive space should look to stash this ETF in late July.