ETF Evaluator:
Nicholas Crypto Income ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Digital Assets Over the Last Year
| 1090.2% | Grayscale Zcash Trust (ZEC) (ZCSH) |
| 112.1% | ProShares UltraShort Bitcoin ETF (SBIT) |
| 35.7% | ProShares Short Ether ETF (SETH) |
| 12.3% | Simplify US Equity PLUS Bitcoin Stgy ETF (SPBC) |
| 10.8% | Proshares UltraShort Ether ETF (ETHD) |
Risk
Index
Risk
Index
ETF Details
Nicholas Crypto Income ETF Overview
Nicholas Crypto Income ETF (BLOX) is an actively managed Miscellaneous Digital Assets exchange-traded fund (ETF). Nicholas Wealth, LLC launched the ETF in 2025.
The investment seeks capital appreciation; current income is a secondary consideration.
The fund’s strategy includes three components: (i) Equity Portfolio: holding equity shares of companies that have principal business activities in the “crypto asset” industry, referred to herein as “Crypto Industry Companies”; (ii)Crypto Portfolio: providing exposure to the share price of: a. select U.S.-listed “ETFs” and/or “ETPs” that seek exposure to bitcoin, which is a crypto asset, and b. select U.S.-listed ETPs and ETFs that seek exposure to ether and (iii) options Overlay: generating income through an options portfolio. The fund is non-diversified.
About Nicholas Crypto Income ETF (BLOX)
There are 4 members of the management team with an average tenure of 0.95 years: Jay Pestrichelli (2025), David Nicholas (2025), Scott Snyder (2025) and Quinn Berry (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Nicholas Crypto Income ETF has 89 securities in its portfolio. The top 10 holdings constitute 56.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Nicholas Crypto Income ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Nicholas Crypto Income ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 21.3% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Nicholas Crypto Income ETF has 43.4% of the portfolio in cash.
Assets Under Management
The fund has $284 million in total assets, which is below the $564 million average for the Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BLOX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Nicholas Crypto Income ETF expense ratio is high compared to funds in the Digital Assets category. Nicholas Crypto Income ETF has an expense ratio of 0.99%, which is 2% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Nicholas Crypto Income ETF has a portfolio turnover rate of 100%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 82% for the Digital Assets category.
Recently, in the month of July 2026, Nicholas Crypto Income ETF returned -11.8%, which earned it a grade of F, as the Digital Assets category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Nicholas Crypto Income ETF has a trailing yield of 51.21%, which is above the 15.12% category average.
The fund normally distributes its income weekly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Nicholas Crypto Income ETF Grades
Year to date, the ETF has returned -5.5%, 25.2 percentage points better than the category, which translates into a grade of A. The fund has returned -15.4% over the past year (grade of A).
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BLOX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BLOX Return (NAV) | -11.8% | -6.0% | -15.4% | na | na | na |
| BLOX Return (Price) | -11.0% | -5.2% | -15.7% | na | na | na |
| NAV +/- Price Return | -0.811% | -0.793% | 0.328% | na | na | na |
| Digital Assets Avg | 2.9% | -16.7% | -32.2% | 6.2% | -17.1% | 54.9% |
| BLOX Grade (NAV) | F | A | A | na | na | na |
| +/- Category (NAV) | -14.7% | 10.8% | 16.8% | na | na | na |
| BLOX Tax-Cost Ratio | na | na | 14.0% | na | na | na |
BLOX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BLOX Return (NAV) | -5.5% | na | na | na | na | na | na | na | na | na | na |
| BLOX Return (Price) | -5.1% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.066% | na | na | na | na | na | na | na | na | na | na |
| Digital Assets Avg | -30.7% | -9.9% | 65.8% | 127.8% | -72.3% | 199.4% | 175.1% | 11.8% | -81.4% | 1391.4% | 119.9% |
| BLOX Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 25.2% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 51.2% |
| Total Assets: | $ 285 Mil |
| Share Class Assets: | $ 285 Mil |
| Turnover: | 100.0% |
| Expense Ratio: | 0.99% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Weekly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 1.1 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Pestrichelli Jay (2025), Nicholas David (2025), Snyder Scott (2025), Berry Quinn (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 89 |
| % in Top 10 Holdings: | 56.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 21.3% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 35.4% |
| Cash: | 43.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Nicholas Wealth, LLC |
| Phone Number: | 855-563-6900 |
| Website: | |
| Inception Date: | June 16, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.99% (Rating: High) |
| Category Average Expense Ratio (%): | 0.97% |
