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BCOR vs LEGR

Grayscale Bitcoin Adopters ETF

BCORCNYSE Arca

First Trust Indxx Innovative Transaction & Process ETF

LEGRBNasdaq

Overlap

1.2%by weight

Expense ratio

BCOR −0.06pt a year

BCOR0.59%LEGR0.65%

Avg volume · 30D

LEGR 2.7×the volume

BCOR1.02KLEGR2.75K

BCOR vs LEGR Performance

Nov 7, 2025 – Nov 9, 2026

−22.7%BCOR+16.8%LEGR

Nov 7, 2025 to Nov 9, 2026. BCOR −22.7%. LEGR +16.8%. Use the arrow keys to read each point.−30%−10%0%10%Nov 2025May 2026Nov 2026
Expense ratio
BCOR 0.59%, better
LEGR 0.65%
Fund size
BCOR $2M
LEGR $124M
1Y total return
BCOR −22.7%
LEGR +16.8%, better
Yield (12M)
BCOR 3.48%, better
LEGR 1.83%
Holdings
BCOR 10
LEGR 110
Avg volume (30D)
BCOR 1.02K sh
LEGR 2.75K sh, better
NAV per share
BCOR $22.40
LEGR $65.02
52W range

ETF.net Grade

BCOR: Cost 68, Risk 70, Mission not scored, Tradability 6, Holdings 21, Durability 31. LEGR: Cost 55, Risk 90, Mission not scored, Tradability 39, Holdings 89, Durability 79.
Pillar letters and Scores for BCOR, LEGR, with each pillar’s weight
PillarBCORLEGR
Cost30% weightB68HigherB55
Mission25% weightNot scoredNot scored
Risk15% weightA70A90Higher
Tradability15% weightF6D39Higher
Holdings10% weightF21A89Higher
Durability5% weightD31A79Higher

Rank among Crypto Industry Stocks funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BCOR and LEGR are both graded against the same 20 Crypto Industry Stocks funds, so their Grades compare head to head.

Crypto Industry Stocks⁠

Category · 20 funds
See all 20 ›

LEGR ranks 3rd and BCOR 13th of 20 funds in the Crypto Industry Stocks Category.

  1. Rank 1AFDIGFidelity Crypto Industry and Digital Payments ETFScore 77
  2. Rank 1ASTCESchwab Crypto Thematic ETFScore 77
  3. Rank 3BLEGRFirst Trust Indxx Innovative Transaction & Process ETFScore 65
  4. Rank 4BDAPPVanEck Digital Transformation ETFScore 63
  5. Rank 11CWGMICoinShares Bitcoin Mining ETFScore 45
  6. Rank 13CBCORGrayscale Bitcoin Adopters ETFScore 40
  7. Rank 13CBLCKCorgi Crypto Infrastructure ETFScore 40

Our read on each fund

ETF.net Research

BCORCGrayscale Bitcoin Adopters ETF

LEGRBFirst Trust Indxx Innovative Transaction & Process ETF

In short

BCOR Grayscale's play on the corporate side of crypto: a global index fund holding bitcoin adopter companies rather than miners or the coin itself. Arrived in 2025 at 0.59%, under the typical crypto-equity fee.

LEGR Blockchain, hold the coins. LEGR has tracked the Indxx Blockchain Index since January 2018, owning roughly 110 global companies that build with the technology or stand to benefit from it, rather than the tokens themselves.

Stated mandate

BCOR The Fund seeks to track, before fees and expenses, the performance of the Indxx Bitcoin Adopters Index.

LEGR The Fund seeks to track the performance of the Indxx Blockchain Index before fees and expenses. The index targets companies involved with blockchain technology or positioned to benefit from its use in business processes.

Why people hold it

  • BCOR Costs 0.59% a year, below the 0.69% median for its crypto-equity peer group, and matches the fee on Grayscale's own miner fund, MNRS.
  • Adopters, not diggers. It tracks the Indxx Bitcoin Adopters Index, a global equity basket that carves out a different slice of the trade than miner or blockchain-infrastructure funds.
  • Plain vanilla plumbing: a 1940 Act ETF tracking a published index, so the lineup follows a written rulebook instead of a manager's discretion.
  • LEGR A first-wave name: launched January 2018, and it has tracked the same blockchain index through a full crypto boom and bust.
  • Picks and shovels, not whitepapers: roughly 110 global stocks either working with blockchain or positioned to benefit from it inside their own business processes.
  • Spreading the theme across about 110 operating companies keeps any single name from dominating, and the fund sits in the upper half of its global thematic peer group.

Worth knowing

  • BCOR This is a stock fund, not bitcoin. You own operating companies, so business results and equity-market moods ride along with whatever crypto is doing.
  • Launched in 2025, so it has none of the multi-year history behind older crypto-equity names like BKCH and BLOK.
  • Trading is lighter than at the category's largest funds, which can translate into wider bid-ask spreads.
  • LEGR The 0.65% expense ratio sits above the typical fee among global thematic ETFs, and several funds in that group charge a fraction of it.
  • It trades thinly, so bid-ask spreads can run wider than on giant ETFs. Limit orders do real work here.
  • Stocks, not coins. Crypto moves reach this fund only through share prices of companies where blockchain may be one line in a much larger business.

Full BCOR profile⁠

Full LEGR profile⁠

BCOR vs LEGR Holdings

How BCOR and LEGR differ

Overlap by weight

1.2%

Shared holdings make up 30.4% of BCOR and 1.2% of LEGR.

Level by level

  • Holdings1 in both1.2%
  • Countryby domicile45.4%
  • Sector9 Sectors66.4%
  • Asset classStocks100%

Sector

Sector weights in BCOR and LEGR, widest gap first
SectorMore in BCORMore in LEGRGap
FinancialsLEGR +23.6 points
Consumer DiscretionaryBCOR +19.2 points
TechnologyBCOR +10.7 points
IndustrialsLEGR +5.0 points
Consumer StaplesBCOR +3.1 points
UtilitiesLEGR +2.8 points
MaterialsLEGR +2.0 points
CommunicationBCOR +0.6 points
EnergyLEGR +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in BCOR and LEGR, widest gap first
CountryMore in BCORMore in LEGRGap
United StatesBCOR +40.4 points
ChinaLEGR +13.7 points
JapanBCOR +10.6 points
GermanyLEGR +6.9 points
United KingdomLEGR +5.9 points
AustraliaLEGR +4.9 points
IndiaLEGR +4.6 points
Cayman IslandsBCOR +3.7 points
Other countries (11)LEGR +18.6 points

Outside the US: LEGR 66% developed, 34% emerging.

Concentration

Weight in the 10 largest Holdings

  • BCOR100.0%
  • LEGR13.3%

Securities held

  • BCOR10
  • LEGR100

Asset class

BCOR
Stocks
LEGR
Stocks

Holdings

  • Only in BCOR9
  • In both1
  • Only in LEGR99

Only in BCOR

9 securities, 69.6% of BCOR by weight

  • Strategy Inc24.82%
  • Block Inc7.99%
  • Metaplanet Inc7.02%

Only in LEGR

99 securities, 98.3% of LEGR by weight

  • Walmart Inc.1.41%
  • HDFC Bank Ltd. (ADR)1.37%
  • S&P Global Inc.1.36%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in BCOR and LEGR, widest gap first
HoldingMore in BCORMore in LEGRGap
Tesla IncTSLABCOR +29.28 points

All 40 BCOR holdings⁠All 103 LEGR holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BCOR vs LEGR Cost

Overpaying LEGR vs BCOR

$1,082

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BCOR 0.59%

    $11,635

  • LEGR 0.65%

    $12,717

$10,000
30 years

Cost over time

  • BCOR 0.59%
  • LEGR 0.65%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530LEGR $12,717BCOR $11,635

Year by year

YearBCORLEGROverpaying
10$1,058$1,163$105
20$4,051$4,440$389
30$11,635$12,717$1,082

Expense ratio

  • 0.59%BCOR, cheaper
  • 0.65%LEGR
  • Middle half of Crypto Industry Stocks funds
  • Median 0.66%

BCOR 7th cheapest of 20 funds

LEGR 8th cheapest of 20 funds

BCOR vs LEGR Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
BCOR 3.48%, better
LEGR 1.83%
Payout (12M)
BCOR $0.80
LEGR $1.20
Last payment
BCOR $0.03
LEGR $0.18
Ex-dividend
BCOR Jun 17, 2026
LEGR Sep 24, 2026
Paid on
BCOR Jun 24, 2026
LEGR Sep 30, 2026
Frequency
BCOR Twice a year
LEGR Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BCORTwice a year · 3 paymentsAll BCOR payments⁠
One bar per payment. 3 payments from 2017 to 2026 YTD. Jun 17, 2025 $0.01; Dec 31, 2025 $0.77; Jun 17, 2026 $0.03. Use the arrow keys to read each point.$0$0.502017202020232026YTD
LEGRQuarterly · 35 paymentsAll LEGR payments⁠
One bar per payment. 35 payments from 2017 to 2026 YTD. Mar 22, 2018 $0.01; Jun 21, 2018 $0.12; Sep 14, 2018 $0.10; Dec 18, 2018 $0.10; Mar 21, 2019 $0.08; Jun 14, 2019 $0.20; Sep 25, 2019 $0.27; Dec 13, 2019 $0.11; Mar 26, 2020 $0.03; Jun 25, 2020 $0.14; Sep 24, 2020 $0.09; Dec 24, 2020 $0.10; Mar 25, 2021 $0.03; Jun 24, 2021 $0.27; Sep 23, 2021 $0.17; Dec 23, 2021 $0.32; Mar 25, 2022 $0.06; Jun 24, 2022 $0.51; Sep 23, 2022 $0.24; Dec 23, 2022 $0.09; Mar 24, 2023 $0.11; Jun 27, 2023 $0.48; Sep 22, 2023 $0.28; Dec 22, 2023 $0.17; Mar 21, 2024 $0.09; Jun 27, 2024 $0.54; Sep 26, 2024 $0.26; Dec 13, 2024 $0.22; Mar 27, 2025 $0.13; Jun 26, 2025 $0.56; Sep 25, 2025 $0.15; Dec 12, 2025 $0.26; Mar 26, 2026 $0.14; Jun 25, 2026 $0.62; Sep 24, 2026 $0.18. Use the arrow keys to read each point.$0$0.502017202020232026YTD

BCOR vs LEGR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BCOR 41.9%since May 2025LEGR 11.7%
Return per unit of riskSharpe ratio, 3 years
BCOR 0.04since May 2025LEGR 1.59
Worst fallMax drawdown, 5 years
BCOR −43.0%since Apr 2025LEGR −31.5%
Market sensitivityBeta, 5 years
BCOR 2.56LEGR 0.90

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