The Horizon Kinetics Blockchain Development ETF is an actively managed ETF that seeks long-term growth of capital. It seeks to achieve its investment objective by investing primarily in equity securities that to benefit, either directly or indirectly, from the use of blockchain technology in connection with the issuance, facilitation, custody, trading and administration of digital assets, including cryptocurrencies. The Fund focuses on the application of the blockchain technology that typically supports digital assets, and is not designed to be dependent upon the success of any individual cryptocurrency or protocol.

Data as of: 10/03/2023
  • Ticker

    BCDF

  • CUSIP

    53656G209

  • ISIN

    US53656G2093

  • Fund Type

    Active Equity ETF

  • Exchange

    NYSE

  • Inception Date

    8/1/2022

  • Expense Ratio

    0.85%

  • Typical Number of Holdings

    20 to 40

  • Net Assets

    $3,090,127

Data as of: 10/04/2023
Daily Holdings
  • % Net Assets

    9.82%

  • Name

    Cash & Other

  • Ticker

    Cash&Other

  • CUSIP

    Cash&Other

  • Shares Held

    303,446

  • Market Value

    $303,446

  • % Net Assets

    6.44%

  • Name

    CACI INTL INC

  • Ticker

    CACI

  • CUSIP

    127190304

  • Shares Held

    642

  • Market Value

    $198,949

  • % Net Assets

    6.17%

  • Name

    CBOE GLOBAL MKTS INC

  • Ticker

    CBOE

  • CUSIP

    12503M108

  • Shares Held

    1,212

  • Market Value

    $190,575

  • % Net Assets

    6.08%

  • Name

    DEUTSCHE BOERSE AG

  • Ticker

    DB1 GR

  • CUSIP

    7021963

  • Shares Held

    1,122

  • Market Value

    $187,938

  • % Net Assets

    5.49%

  • Name

    SCIENCE APPLICATIONS INTL CORP COM

  • Ticker

    SAIC

  • CUSIP

    808625107

  • Shares Held

    1,602

  • Market Value

    $169,540

  • % Net Assets

    5.49%

  • Name

    URBANA CORP CL A NON VTG

  • Ticker

    URB/A CN

  • CUSIP

    B1N4CX2

  • Shares Held

    53,858

  • Market Value

    $169,601

  • % Net Assets

    5.35%

  • Name

    INTERCONTINENTAL EXCHANGE INC COM

  • Ticker

    ICE

  • CUSIP

    45866F104

  • Shares Held

    1,536

  • Market Value

    $165,258

  • % Net Assets

    4.93%

  • Name

    CME GROUP INC

  • Ticker

    CME

  • CUSIP

    12572Q105

  • Shares Held

    756

  • Market Value

    $152,455

  • % Net Assets

    4.93%

  • Name

    SINGAPORE EXCHANGE

  • Ticker

    SGX SP

  • CUSIP

    6303866

  • Shares Held

    21,492

  • Market Value

    $152,436

  • % Net Assets

    4.91%

  • Name

    TMX GROUP LTD

  • Ticker

    X CN

  • CUSIP

    B8KH5G7

  • Shares Held

    7,242

  • Market Value

    $151,771

  • % Net Assets

    4.86%

  • Name

    JAPAN EXCHANGE GP

  • Ticker

    8697 JP

  • CUSIP

    6743882

  • Shares Held

    8,124

  • Market Value

    $150,092

  • % Net Assets

    4.83%

  • Name

    LONDON STOCK EXCH

  • Ticker

    LSEG LN

  • CUSIP

    B0SWJX3

  • Shares Held

    1,518

  • Market Value

    $149,211

  • % Net Assets

    4.65%

  • Name

    WISDOMTREE INVTS INC

  • Ticker

    WT

  • CUSIP

    97717P104

  • Shares Held

    21,310

  • Market Value

    $143,843

  • % Net Assets

    4.24%

  • Name

    ASX LTD

  • Ticker

    ASX AU

  • CUSIP

    6129222

  • Shares Held

    3,702

  • Market Value

    $131,146

  • % Net Assets

    3.88%

  • Name

    TRADEWEB MKTS INC

  • Ticker

    TW

  • CUSIP

    892672106

  • Shares Held

    1,503

  • Market Value

    $119,969

  • % Net Assets

    3.75%

  • Name

    DIGITAL GARAGE

  • Ticker

    4819 JP

  • CUSIP

    6309422

  • Shares Held

    5,268

  • Market Value

    $115,739

  • % Net Assets

    3.53%

  • Name

    GALAXY DIGITAL HOLDINGS LTD

  • Ticker

    GLXY CN

  • CUSIP

    BD5H1G9

  • Shares Held

    31,710

  • Market Value

    $109,102

  • % Net Assets

    2.99%

  • Name

    BAKKT HOLDINGS INC

  • Ticker

    BKKT

  • CUSIP

    05759B107

  • Shares Held

    83,958

  • Market Value

    $92,354

  • % Net Assets

    2.43%

  • Name

    MARKETAXESS HLDGS INC

  • Ticker

    MKTX

  • CUSIP

    57060D108

  • Shares Held

    366

  • Market Value

    $74,942

  • % Net Assets

    1.94%

  • Name

    OTC MKTS GROUP INC

  • Ticker

    OTCM

  • CUSIP

    67106F108

  • Shares Held

    1,167

  • Market Value

    $59,984

  • % Net Assets

    1.65%

  • Name

    NASDAQ INC

  • Ticker

    NDAQ

  • CUSIP

    631103108

  • Shares Held

    1,080

  • Market Value

    $51,030

  • % Net Assets

    1.64%

  • Name

    APPLIED DIGITAL CORP

  • Ticker

    APLD

  • CUSIP

    038169207

  • Shares Held

    9,429

  • Market Value

    $50,728

Data as of: 10/04/2023
Daily Holdings
  • % Net Assets

    Name

    Ticker

    CUSIP

    Shares Held

    Market Value

  • 9.82%

    Cash & Other

    Cash&Other

    Cash&Other

    303,446

    $303,446

  • 6.44%

    CACI INTL INC

    CACI

    127190304

    642

    $198,949

  • 6.17%

    CBOE GLOBAL MKTS INC

    CBOE

    12503M108

    1,212

    $190,575

  • 6.08%

    DEUTSCHE BOERSE AG

    DB1 GR

    7021963

    1,122

    $187,938

  • 5.49%

    SCIENCE APPLICATIONS INTL CORP COM

    SAIC

    808625107

    1,602

    $169,540

  • 5.49%

    URBANA CORP CL A NON VTG

    URB/A CN

    B1N4CX2

    53,858

    $169,601

  • 5.35%

    INTERCONTINENTAL EXCHANGE INC COM

    ICE

    45866F104

    1,536

    $165,258

  • 4.93%

    CME GROUP INC

    CME

    12572Q105

    756

    $152,455

  • 4.93%

    SINGAPORE EXCHANGE

    SGX SP

    6303866

    21,492

    $152,436

  • 4.91%

    TMX GROUP LTD

    X CN

    B8KH5G7

    7,242

    $151,771

  • 4.86%

    JAPAN EXCHANGE GP

    8697 JP

    6743882

    8,124

    $150,092

  • 4.83%

    LONDON STOCK EXCH

    LSEG LN

    B0SWJX3

    1,518

    $149,211

  • 4.65%

    WISDOMTREE INVTS INC

    WT

    97717P104

    21,310

    $143,843

  • 4.24%

    ASX LTD

    ASX AU

    6129222

    3,702

    $131,146

  • 3.88%

    TRADEWEB MKTS INC

    TW

    892672106

    1,503

    $119,969

  • 3.75%

    DIGITAL GARAGE

    4819 JP

    6309422

    5,268

    $115,739

  • 3.53%

    GALAXY DIGITAL HOLDINGS LTD

    GLXY CN

    BD5H1G9

    31,710

    $109,102

  • 2.99%

    BAKKT HOLDINGS INC

    BKKT

    05759B107

    83,958

    $92,354

  • 2.43%

    MARKETAXESS HLDGS INC

    MKTX

    57060D108

    366

    $74,942

  • 1.94%

    OTC MKTS GROUP INC

    OTCM

    67106F108

    1,167

    $59,984

  • 1.65%

    NASDAQ INC

    NDAQ

    631103108

    1,080

    $51,030

  • 1.64%

    APPLIED DIGITAL CORP

    APLD

    038169207

    9,429

    $50,728

Data as of: 10/03/2023
  • Net Asset Value

    $20.6

  • NAV Change

    $-0.30

  • Median 30 Day Spread

    0.47%

  • Market Price

    $20.67

  • Market Price Change

    $-0.22

  • Premium/Discount

    $0.07 | 0.32%

Historical Data

Premium/Discount Range (%)

Date

  • Greatest Premium

    0.32% 10/03/2023

  • Greatest Discount

    -0.09% 10/02/2023

  • Number of Days At

  • Premium:

    1

  • NAV:

    0

  • Discount:

    1

  • Days Within Percent of NAV

  • Percent of Days +/- 0.5% of NAV:

    100%

  • Number of Days +/- 0.5% of NAV:

    2

The Premium/Discount chart shows the difference between the daily market price of the Fund's shares and the Fund's net asset value ("NAV").

Data as of: 09/30/2023
  • NAV

  • 1 Month

    -2.80%

  • YTD

    6.84%

  • 1 Year

    1.68%

  • 3 Year

    --

  • 5 Year

    --

  • Since Inception Annualized

    -14.03%

  • Market Value

  • 1 Month

    -2.94%

  • YTD

    6.72%

  • 1 Year

    1.71%

  • 3 Year

    --

  • 5 Year

    --

  • Since Inception Annualized

    -13.92%

Data as of: 09/30/2023
  • 1 Month

    YTD

    1 Year

    3 Year

    5 Year

    Since Inception Annualized

  • NAV

    -2.80%

    6.84%

    1.68%

    --

    --

    -14.03%

  • Market Value

    -2.94%

    6.72%

    1.71%

    --

    --

    -13.92%

Latest Distribution History
  • Ex-Dividend Date

    Dec 28, 2022

  • Record Date

    Dec 29, 2022

  • Payable Date

    Dec 30, 2022

  • Income

    $0.05244

  • Short Term Capital Gain

    $0.000

  • Long Term Capital Gain

    $0.000

  • Return of Capital

    $0.000

  • Total

    $0.05244

  • Ex-Dividend Date

    Sept 28, 2022

  • Record Date

    Sept 29, 2022

  • Payable Date

    Sept 30, 2022

  • Income

    $0.0219

  • Short Term Capital Gain

    $0.000

  • Long Term Capital Gain

    $0.000

  • Return of Capital

    $0.000

  • Total

    $0.0219

Latest Distribution History
  • Ex-Dividend
    Date

    Record Date

    Payable Date

    Income

    Short Term
    Capital Gain

    Long Term
    Capital Gain

    Return of
    Capital

    Total

  • Dec 28, 2022

    Dec 29, 2022

    Dec 30, 2022

    $0.05244

    $0.000

    $0.000

    $0.000

    $0.05244

  • Sept 28, 2022

    Sept 29, 2022

    Sept 30, 2022

    $0.0219

    $0.000

    $0.000

    $0.000

    $0.0219

PERFORMANCE RISK DISCLOSURES

Inception Date: 8/1/2022. Expense Ratio: 0.85%.

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. For performance current to most recent month end please call 646-495-7333.

Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

Short term performance, in particular is not a good indication of future performance and an investment should not be made based solely on returns.

Resources

Press

  • Replay - Horizon Kinetics Blockchain Development ETF (BCDF) Webinar (Event Date: 9/12/23)
    Watch
  • Horizon Kinetics Active ETF Webinar (Event Date: 5/17/2023)
    Watch
  • Peter Doyle and Brandon Colavita interviewed by Deep Knowledge Investing
    View
  • Brandon Colavita interviewed for NYSE What’s The Fund?
    Watch
  • Peter Doyle and Brandon Colavita interviewed for NYSE "Exchange"
    Watch
  • Brandon Colavita interviewed for NYSE ETF Takeaway
    Watch
  • BCDF Launch Press Release
    View PDF
  • Replay - Horizon Kinetics Blockchain Development ETF (BCDF) Webinar (Event Date: 9/12/23)
    Watch
  • Horizon Kinetics Active ETF Webinar (Event Date: 5/17/2023)
    Watch
  • Peter Doyle and Brandon Colavita interviewed by Deep Knowledge Investing
    View
  • Brandon Colavita interviewed for NYSE What’s The Fund?
    Watch
  • Peter Doyle and Brandon Colavita interviewed for NYSE "Exchange"
    Watch
  • Brandon Colavita interviewed for NYSE ETF Takeaway
    Watch
  • BCDF Launch Press Release
    View PDF
IMPORTANT RISK DISCLOSURES

Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a statutory prospectus and summary prospectus by contacting 646-495-7333. Read it carefully before investing.

The Horizon Kinetics Blockchain Development ETF (Symbol: BCDF) is an exchange traded fund managed by Horizon Kinetics Asset Management LLC (“HKAM”).

Associated Risk of Investing in Blockchain Development Companies. The Fund will invest in Blockchain Development Companies. At times, Blockchain Development Companies may be out of favor and underperform other industries or groups of industries or the market as a whole. In such event, the value of the Shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries.

Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund’s investments in securities linked to real assets involve significant risks, including financial, operating, and competitive risks. Investments in securities linked to real assets expose the Fund to potentially adverse macroeconomic conditions, such as a rise in interest rates or a downturn in the economy in which the asset is located.

The Fund is non‐diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund.

Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.

The Fund does not invest directly in cryptocurrencies or initial coin offerings and as a result, its performance does not seek to, and should not be expected to, correspond to the performance of any particular cryptocurrency. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets.

The Fund may invest in the securities of smaller and mid‐capitalization companies, which may be more volatile than funds that invest in larger, more established companies. The fund is actively managed and may be affected by the investment adviser’s security selections.

Diversification does not assure a profit or protect against a loss in a declining market.

HKAM does not provide tax or legal advice, all investors are encouraged to consult their tax and legal advisors regarding an investment in the Fund. You may obtain additional information about HKAM at our website at www.horizonkinetics.com.

No part of this material may be copied, photocopied, or duplicated in any form, by any means, or redistributed without the express written consent of HKAM.

The Horizon Kinetics Blockchain Development ETF (BCDF) is distributed by Foreside Fund Services, LLC (“Foreside”). Foreside is not affiliated with BCDF or Horizon Kinetics LLC or its subsidiaries.

Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

CPI: The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Dividend yield: Dividend yield equals the annual dividend per share divided by the stock’s price per share.

Stagflation: Persistent high inflation combined with high unemployment and stagnant demand in a country’s economy.

Duration: Bond duration is a measure of how much bond prices are likely to change if and when interest rates move.

Bloomberg Barclays US Aggregate Bond Index: The Bloomberg Barclays US Aggregate Bond Index is a broad-based benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate pass-throughs), ABS and CMBS (agency and non-agency). An investor cannot invest directly in an index.

Basis points: Basis points are a common unit of measure for percentages in finance. One basis point is equal to 1/100th of 1%.

Yield to worst: The yield to worst is the minimum yield that can be received on a bond, assuming the issuer doesn’t default.

S&P 500 Index: The S&P 500® Index represents an unmanaged, broad-based basket of stocks. It is typically used as a proxy for overall market performance.

Beta: The beta of a security is a measurement of its volatility of returns relative to the entire market. It is used as a measure of risk.