---
ticker: "BCDF"
name: "Horizon Kinetics Blockchain Development ETF"
url: "https://etf.net/etf/BCDF"
grade: "D"
score: 34
graded_at: "2026-10-12"
category: "Crypto Industry Stocks"
category_rank: "18 of 20"
methodology: "https://etf.net/methodology"
---

# BCDF: Horizon Kinetics Blockchain Development ETF

Grade **D**, Score 34 of 100. Rank 18 of 20 in Crypto Industry Stocks.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 13 | 16 of 20 |
| Mission | Not scored | — |
| Risk | 80 | 4 of 20 |
| Tradability | 19 | 16 of 20 |
| Holdings | 51 | 12 of 19 |
| Durability | 42 | 15 of 20 |

## Top holdings

The fund holds 35 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Us Bank Mmda - Usbgfs 7 06/01/2031 | 7.81% |
| 2 | CBOE | Cboe Global Markets Inc | 7.58% |
| 3 | URB-A.TO | Urbana Corp | 6.57% |
| 4 | — | Singapore Exchange Ltd | 5.57% |
| 5 | X.TO | TMX Group Ltd | 5.42% |
| 6 | DB1.DE | Deutsche Boerse AG | 5.36% |
| 7 | CACI | CACI International Inc | 5.24% |
| 8 | NDAQ | Nasdaq Inc | 4.95% |
| 9 | ICE | Intercontinental Exchange Inc | 4.78% |
| 10 | 8697.T | Japan Exchange Group Inc | 4.69% |
| 11 | WT | WisdomTree Inc | 4.37% |
| 12 | LB | Landbridge Co LLC | 4.07% |
| 13 | SAIC | Science Applications International Corp | 3.54% |
| 14 | TW | Tradeweb Markets Inc | 3.30% |
| 15 | ASX.AX | ASX Ltd | 3.24% |
| 16 | LSEG.L | London Stock Exchange Group PLC | 2.97% |
| 17 | GLXY | Galaxy Digital Inc | 2.74% |
| 18 | MIAX | Miami International Holdings Inc | 2.58% |
| 19 | HE | Hawaiian Electric Industries Inc | 2.53% |
| 20 | CME | CME Group Inc | 2.19% |
| 21 | ENX.PA | Euronext NV | 2.18% |
| 22 | OTCM | OTC Markets Group Inc | 2.17% |
| 23 | MKTX | MarketAxess Holdings Inc | 1.55% |
| 24 | BR | Broadridge Financial Solutions Inc | 1.45% |
| 25 | BTC | Grayscale Bitcoin Mini Trust ETF | 0.87% |
| 26 | 4816.T | Toei Animation Co Ltd | 0.70% |
| 27 | 3791.T | IG Port Inc | 0.52% |
| 28 | NZX.NZ | NZX Ltd | 0.43% |
| 29 | BAH | Booz Allen Hamilton Holding Corp | 0.35% |
| 30 | — | Cash & Other | 0.10% |

Source: etf.net, https://etf.net/etf/BCDF. Please cite the page URL.