DAPP vs WGMI

DAPPBVanEck Digital Transformation ETF

WGMICCoinShares Bitcoin Mining ETF

In short

DAPP Crypto exposure without the crypto. DAPP holds the equities of the digital-asset economy (exchanges, miners, infrastructure) and by its own mandate never buys a coin, a coin derivative, or an ICO.

WGMI The pickaxe trade, not the gold. WGMI skips bitcoin itself and buys the companies mining it, plus the chipmakers and software shops arming them, with a manager picking the names instead of a fixed index.

Stated mandate

DAPP Before fees and expenses, the Fund seeks to follow the price and yield performance of the MVIS Global Digital Assets Equity Index, which is designed to represent companies participating in digital-asset economies.

WGMI The Fund seeks total return. It is actively managed and invests primarily in companies connected with bitcoin mining, including miners and providers of specialized mining-related technology and services.

Why people hold it

• DAPP A clean split of the trade: you own the businesses built around digital assets, while the fund is barred from holding the assets themselves or derivatives on them.usnews.comaaii.com
• 0.52% expense ratio, a shade under the typical global thematic fund, for a rules-based index rather than a manager's hunches.
• One of the more actively traded names in its thematic peer group, which generally means less bid-ask friction on the way in and out.
• Launched in 2021, early to the crypto-equity shelf, and built on VanEck's own MVIS Global Digital Assets Equity Index.

• WGMI Pure-play by rule: at least 80% of assets go to companies earning 50% or more of revenue from bitcoin mining, or from selling miners chips, hardware, software and services.coinshares.comsec.gov
• Actively managed, so the portfolio can shift between miners as power costs and hash economics reshuffle the field, rather than waiting on an index reconstitution.sec.gov
• Equities only. The fund does not hold bitcoin directly, through derivatives, or via bitcoin trusts, so what you own is the industry balance sheets, not the coin.sec.govcoinshares.com
• Listed since 2022 and actively traded, which is a long track record in crypto years and puts it in the upper half of its crypto-equity peer group.

Worth knowing

• DAPP Non-diversified by design and concentrated in miners and exchanges, so a single company's stumble can move the whole fund.usnews.comaaii.com
• These companies live off digital-asset activity, so the ride tends to track the crypto cycle even though no coins are held.
• Not an income holding: nothing was paid out over the past year, so the whole case rests on share prices.

• WGMI 0.75% a year runs a little above the typical fund in its crypto-equity cohort. That is the toll for active stock picking over an index.
• No distributions. Whatever this does, it does through share price, not income.
• Narrow by design. Broader blockchain baskets like BKCH and BLOK spread across more of the crypto economy; WGMI stays on miners and their suppliers, US and overseas.

Full DAPP profile⁠

Full WGMI profile⁠