Amplify’s STBQ and TKNQ began trading on NYSE Arca, offering a regulated entry point to stablecoin infrastructure and tokenization themes. The ETFs blend traditional equities with crypto-linked instruments under a single wrapper, targeting institutional and retail investors seeking infrastructure exposure to digital finance.
STBQ tracks the MarketVector Stablecoin Technology Index and TKNQ follows the MarketVector Tokenization Technology Index, both rules-based benchmarks that combine equities and exchange-traded products (ETPs). At each rebalance, 25–50% of the portfolio is allocated to crypto-related assets, reflecting the indices’ blended design.
STBQ’s equity exposure emphasizes payments and infrastructure companies, including Visa, Circle, Mastercard and PayPal, while TKNQ targets firms building tokenization rails such as BlackRock, JPMorgan, Figure Technology Solution, Citigroup and Nasdaq.
Tokenization means representing real-world assets as digital tokens on a blockchain, enabling fractional ownership and faster settlement. Both ETFs gain crypto exposure primarily through spot crypto ETPs rather than holding native tokens directly; eligible allocations must meet market-cap, liquidity and investability thresholds and may include stablecoin-adjacent or DeFi tokens named in the index methodology, such as XRP, SOL, ETH and LINK.
Market context, risks and competitors
Amplify positions the ETFs as early movers in infrastructure-focused digital asset strategies, and industry filings indicate rising competition as another manager has filed for a combined stablecoin and tokenization ETF. The funds are non-diversified and therefore likely to be more volatile than broadly diversified products, underscoring their thematic focus.
Key risks include regulatory shifts affecting staking and stablecoin issuance, as well as cybersecurity and theft, index tracking error from sampling, and uncertain tax treatment for crypto-linked returns.
Analysts cited in the funds’ materials project a large market expansion, with the stablecoin ecosystem referenced as growing from about $300 billion to roughly $3.7 trillion by 2030, and tokenized assets projected to scale from $176 billion to about $3.6 trillion by 2030.
Regulatory developments have been central to the ETFs’ timing, with U.S. legislative movement such as the GENIUS Act and Europe’s Markets in Crypto-Assets (MiCA) framework cited as creating clearer compliance pathways for stablecoins and tokenized instruments. Hong Kong measures, including a licensing regime for stablecoin issuers and stamp-duty relief for tokenized ETFs, are referenced as further international tailwinds that may encourage institutional participation.
The two Amplify ETFs create a regulated, infrastructure-focused route into stablecoin and tokenization themes, balancing equity exposure with significant crypto-related allocations.
