The blockchain-based investing industry is becoming more congested. Following the introduction of four blockchain ETFs in January of this year, another was recently introduced. (For further information, see How Do Blockchain ETFs Work?)
Meet the BKC ETF
Brian Kelly, the CEO and creator of BKCM and a CNBC contributor, has launched the REX BKCM ETF, a new actively managed blockchain startup-based exchange traded fund (ETF) (BKC).BKCM LLC is a digital currency-focused investing business.
The ETF, which will be created in collaboration with REX Shares creator Gregg King, will invest in about 33 blockchain and cryptocurrency-related firms. The fund targets total return by investing in equities of worldwide firms that strive to earn income and profit from cryptocurrency-related and enterprise blockchain technology-related initiatives and enterprises. It will help businesses from the beginning. The ETF will be traded on the NYSE ARCA market under the ticker code BKC and will have a 0.88 percent cost ratio.
Taiwan Semiconductor Manufacturing, Global Unichip, GMO Internet, Overstock.com (OSTK), and SVB Financial Group (SIVB) were the fund’s top five holdings at the time of its introduction on Wednesday, each having an 8% allocation. Square Inc. (SQ) and chipmaker Advanced Micro Devices are among the other major businesses on the holding list (AMD).
Brain Kelly on Blockchain ETF
“I am often asked how to invest in blockchain technology without worrying about storage, hacking, hedge funds, and so forth. My aim is that the BKC ETF will offer the required equity allocation to both institutions and individuals “Kelly made the announcement in a statement.
He described the core process for choosing suitable organizations to CoinDesk. Enterprise blockchain, or companies using the technology to streamline existing business processes; Wall Street disruptors, such as those developing or offering services on changing how securities are traded (such as Overstock.com’s tZero exchange system); mining focused entities; and exchange firms and startups creating a decentralized internet are all eligible.
Being an actively managed ETF gives the fund management the ability to add, cut, and swap investments in various firms as the blockchain and cryptocurrency market evolves. While it will invest in corporate blockchain businesses, it may eventually concentrate only on blockchain-specific startups. Though the fund will not invest in cryptocurrencies, it will continue to accept applications from firms that provide regulated securities products.
Reality Shares Nasdaq NexGen Economy ETF (BLCN), First Trust Indxx Innovative Transaction & Process ETF (LEGR), Amplify Transformational Data Sharing ETF (BLOK), and Innovation Shares NextGen Protocol ETF (BLOK) were also introduced in January (KOIN ).Since their initial release, all have been trading flat. (For more information, see 5 Ways to Invest in the Blockchain Boom.)
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