Crypto Stocks
Top 10 of 20 DAPP holdings, updated
As of 12 October 2026, crypto stocks are losing ground: still ahead of the S&P 500 over the longer run, but behind over the past month. DAPP trails the S&P 500 by 13.9 points over one month and ranks #111 of 115 groups Zensei tracks. 6 of the 18 crypto stocks Zensei prices in DAPP beat the fund this month.
Where crypto stocks stand now
As of 12 October 2026, Crypto Innovators (DAPP) ranks #111 of the 115 groups Zensei tracks by one-month return against the S&P 500, among the market's weakest pockets. It is losing its lead. It built a 9.5-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 13.9 points behind the market — the Cooling quadrant of the rotation map.
On the shorter tape, DAPP's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. DAPP's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via VanEck Digital Transformation ETF, whose 20 tracked holdings are led by Coinbase, Block Inc and BitMine Immersion Technologies. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
As of , these are the largest crypto stocks in DAPP by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top crypto stocks by fund weight
Ranked by largest share of DAPP
- 1CoinbaseCOIN8.8%
- 2Block IncXYZ7.8%
- 3BitMine Immersion TechnologiesBMNR6.8%
- 4Circle Internet GroupCRCL6.4%
- 5IRENIREN6.3%
Best crypto stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1MicroStrategyMSTR+16.6%
- 2CoinbaseCOIN+2.9%
- 3Block IncXYZ−3.0%
- 4BitMine Immersion TechnologiesBMNR−4.8%
- 5Circle Internet GroupCRCL−7.4%
Crypto Stocks vs the S&P 500
Over the week to 12 October 2026, DAPP fell 8.1% while the S&P 500 rose 0.4%. The table compares DAPP and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means DAPP won that window.
Prices as of · computed from daily adjusted closes · how we measure
Crypto Innovators on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are crypto stocks expensive?
Under half of the weight in DAPP has a positive P/E, so a fund P/E would not describe the fund. Zensei shows a fund P/E from 50% coverage. Compare with every sector and theme: P/E ratio by sector.
DAPP holdings: the crypto stocks inside
This list covers all 20 crypto stocks in DAPP, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 6 of the 18 crypto stocks Zensei prices in DAPP beat the fund over the past month. 2 of them beat the S&P 500. The strongest is MicroStrategy (MSTR); the weakest is Cleanspark Inc (CLSK). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | COINCoinbase | 8.8% | +2.9% | +14.6% | +14.7 pts | Strong | Strong |
| 2 | XYZBlock Inc | 7.8% | −3.0% | −2.4% | +8.8 pts | Accelerating | Strong |
| 3 | BMNRBitMine Immersion Technologies | 6.8% | −4.8% | +63.1% | +7.0 pts | Weak | Strong |
| 4 | CRCLCircle Internet Group | 6.4% | −7.4% | +33.1% | |||
| 5 | IRENIREN | 6.3% | −20.6% | −10.7% | |||
| 6 | MSTRMicroStrategy | 5.7% | +16.6% | +65.8% | |||
| 7 | HUTHUT 8 Corp | 5.4% | −13.5% | −14.0% | |||
| 8 | RIOTRiot Platforms | 4.7% | −23.3% | −18.4% | |||
| 9 | CLSKCleanspark Inc | 4.5% | −24.7% | −16.7% | |||
| 10 | MARAMARA Holdings | 4.4% | −21.2% | −22.6% |
All 20 DAPP holdings by weight: Coinbase (COIN) 8.8%, Block Inc (XYZ) 7.8%, BitMine Immersion Technologies (BMNR) 6.8%, Circle Internet Group (CRCL) 6.4%, IREN (IREN) 6.3%, MicroStrategy (MSTR) 5.7%, HUT 8 Corp (HUT) 5.4%, Riot Platforms (RIOT) 4.7%, Cleanspark Inc (CLSK) 4.5%, MARA Holdings (MARA) 4.4%, Applied Digital (APLD) 4.4%, Cipher Digital Inc (CIFR) 4.4%, Galaxy Digital Inc (GLXY) 4.3%, Core Scientific Inc (CORZ) 4.3%, TeraWulf (WULF) 4.3%, Bitdeer Technologies Group (BTDR) 4.2%, Bullish (BLSH) 4.0%, Metaplanet Inc 3.8%, Figure Technology Solutions Inc (FIGR) 3.5%, OSL Group Ltd 2.0%.
Crypto stocks with their own page
Zensei publishes a page for 9 of the stocks in DAPP; each page shows the stock against the S&P 500 and its sector.
| Stock | Ticker | Weight in DAPP | 1M return |
|---|---|---|---|
| Coinbase | COIN | 8.8% | +2.9% |
| BitMine Immersion Technologies | BMNR | 6.8% | −4.8% |
| Circle Internet Group | CRCL | 6.4% | −7.4% |
| IREN | IREN | 6.3% | −20.6% |
| MicroStrategy | MSTR | 5.7% | +16.6% |
| Riot Platforms | RIOT | 4.7% | −23.3% |
| MARA Holdings | MARA | 4.4% | −21.2% |
| Applied Digital | APLD | 4.4% | −12.0% |
| TeraWulf | WULF | 4.3% | −20.1% |
Weight is the share of DAPP. 1M is the plain one-month return to the close of . All stock pages
Crypto Stocks: common questions
Crypto stocks list: which stocks are in DAPP?
As of 12 October 2026, DAPP holds 20 crypto stocks, and this page lists all 20. The three largest by fund weight are Coinbase (COIN, 8.8%), Block Inc (XYZ, 7.8%) and BitMine Immersion Technologies (BMNR, 6.8%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best crypto stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest crypto stocks in DAPP are MicroStrategy (MSTR, +16.6%), Coinbase (COIN, +2.9%) and Block Inc (XYZ, −3.0%). This ranks past return only; it does not forecast the next month.
What are the top 3 crypto stocks?
As of 12 October 2026, the three largest crypto stocks in DAPP by fund weight are Coinbase (COIN, 8.8%), Block Inc (XYZ, 7.8%) and BitMine Immersion Technologies (BMNR, 6.8%). Fund weight shows size inside the fund, not a recommendation.
Which crypto stocks are beating the sector?
As of 12 October 2026, 6 of the 18 crypto stocks Zensei prices in DAPP beat the fund over the past month. The strongest over the past month is MicroStrategy (MSTR). The table above shows the largest holdings with their weights and returns.
Which ETF holds crypto stocks?
Several ETFs hold crypto stocks. Zensei tracks the group through DAPP, the VanEck Digital Transformation ETF. As of 12 October 2026, its published holdings list 20 crypto stocks, and the 10 largest make up 60.8% of the fund.
Are crypto stocks outperforming the S&P 500?
No. As of 12 October 2026, DAPP trails the S&P 500 by 13.9 points over the past month.
What is DAPP?
DAPP is VanEck Digital Transformation ETF. Zensei uses it to measure crypto stocks against the S&P 500 (SPY).
What stocks does DAPP own?
As of 12 October 2026, the largest of the 20 positions Zensei tracks in DAPP are Coinbase, Block Inc, BitMine Immersion Technologies, Circle Internet Group, IREN. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is crypto innovators in right now?
As of 12 October 2026, crypto innovators is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The Zensei methodology page explains the quadrants.
Recent changes
- ·Gaining ground → losing ground
- ·First tracked: gaining ground
Related sectors
Track crypto innovators against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.
Compare all sectors: Sector heat map · Sector P/E ratios