Horizon Kinetics Blockchain Development ETF
BCDF
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Cryptocurrency
- Address
- 470 Park Avenue South New York NY United States of America 10016
- IPO Date
- Aug 2, 2022
- Website
- horizonkinetics.com
- Similar Companies
- Business
- Horizon Kinetics Blockchain Development ETF (BCDF) is an actively managed exchange-traded fund that seeks long-term growth of capital by investing primarily in equity securities of domestic and foreign companies positioned to benefit, directly or indirectly, from blockchain technology applications in the issuance, facilitation, custody, trading, and administration of digital assets, including cryptocurrencies. The fund maintains a portfolio typically comprising 20 to 40 holdings across all market capitalizations, with significant allocations to regulated exchanges such as Cboe Global Markets Inc., TMX Group Ltd., Singapore Exchange Ltd., Nasdaq Inc., Intercontinental Exchange Inc., and Deutsche Boerse AG; defense and data analytics firms including CACI International Inc. and Science Applications International Corp.; crypto infrastructure providers like Galaxy Digital Inc. and Urbana Corp.; asset managers such as WisdomTree Inc.; and other blockchain enablers encompassing tokenization platforms, trading venues like Miami International Holdings Inc., and cryptocurrency-related entities including Bakkt Holdings Inc. and Grayscale Bitcoin Mini Trust ETF. BCDF emphasizes business models resilient to blockchain adoption outcomes, including spot and derivative trading, custody and asset management, blockchain data analysis, and tokenization, while avoiding dependency on any single cryptocurrency or protocol. Launched on August 1, 2022, and listed on the NYSE Arca under ticker BCDF (CUSIP 53656G209), the ETF is managed by Horizon Kinetics LLC from offices in New York, NY; White Plains, NY; and Summit, NJ, with an expense ratio of 0.85% and net assets of approximately $19.1 million as of November 2025. The fund targets global markets, with holdings spanning the United States, Canada, Singapore, Germany, Japan, Australia, the United Kingdom, and other regions, serving investors seeking exposure to blockchain development without direct cryptocurrency ownership risks. Recent developments include portfolio manager webinars in November 2025, such as a joint session with the Horizon Kinetics Inflation Beneficiaries ETF (INFL) on November 6, highlighting strategic insights into blockchain integration; ongoing updates to holdings reflecting blockchain advancements, such as positions in Circle Internet Group Inc. and IREN Ltd. amid rising stablecoin and mining infrastructure adoption; and semi-annual financial statements through June 30, 2025, alongside quarterly portfolio disclosures showing sustained focus on exchanges amid tokenization pilots by holdings like CME Group, Intercontinental Exchange, and Nasdaq.