The Newest Blockchain ETF This Week's ETF Launc
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Posted On: 05/23/2018 12:34:13 PM
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The Newest Blockchain ETF
This Week's ETF Launches: Crypto Expert Brian Kelly Launches His Own Blockchain ETF
David DierkingMay 23, 2018
http://etfdb.com/news/2018/05/23/etf-launches...5-48449885
The first four blockchain ETFs were all launched within a couple weeks of each other back in January. Things have been relatively quiet until this week when noted cryptocurrency expert and CNBC Fast Money contributor Brian Kelly dropped his own blockchain ETF on the marketplace.
Kelly partnered with REX Shares to launch the REX BKCM ETF (BKC n/a). It will be actively managed by Kelly himself and looks to invest in public companies deriving revenue from any aspect of the blockchain ecosystem. Following an initial scan of company fundamentals, the fund will sort potential investments into four groups – Wall Street disruptors, crypto miners and traders, enterprise blockchain leaders and decentralized internet leaders.
Companies that meet Kelly’s fundamental and investability screens qualify for inclusion. BKC currently has 33 names with nearly 40% of assets committed to just five names, making it the most concentrated of the blockchain ETFs. REX attempted to enter the cryptocurrency space last year when it filed for a pair of bitcoin ETFs, but those applications were later withdrawn.
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