fbpx
QQQ
+ 0.40
341.21
+ 0.12%
DIA
+ 1.41
339.04
+ 0.41%
SPY
+ 1.40
414.50
+ 0.34%
TLT
-1.09
141.44
-0.78%
GLD
+ 1.00
164.35
+ 0.6%

Brian Kelly Introduces An Active Blockchain ETF

by
May 17, 2018 10:52 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Brian Kelly, founder of BKCM Funds and a frequent CNBC contributor and guest, partnered with exchange traded funds issuer REX Shares to introduce the REX BKCM ETF (NYSE:BKC).

The REX BKCM ETF, which debuted Wednesday, is the fifth blockchain ETF to come to market this year and the second actively managed fund in the space.

“Brian Kelly will serve as portfolio manager of the fund, actively managing a portfolio of companies seeking to profit from, the advancement of blockchain technology and the rise of cryptocurrency adoption,” according to a statement.

What Happened

Kelly is a noted cryptocurrency export and authored the book "Bitcoin Big Bang." His firm BKCM “manages a long/short hedge fund focusing on bitcoin, Ethereum, Stellar, Monero, Litecoin, and other cryptocurrencies,” according to Rex Shares.

BKC is the fifth ETF targeting companies with exposure to the booming blockchain space. The other four funds in the space have about $361 million in combined assets under management, with the two largest — including one active fund — combining for $308 million of the total.

Why It's Important

With over 30 industries exploring the use of blockchain, the emerging technology may fundamentally transform the way business is transacted,” according to Rex Shares. “This disruptive innovation could impact supply chains, health care, governments and financial services companies, among others.”

The new BKC has 33 holdings. Top 10 holdings in the new ETF include Taiwan Semiconductor Ltd. (NYSE:TSM), Square Inc. (NYSE:SQ) and Advanced Micro Devices Inc.(NASDAQ:AMD). BKC features significant international exposure, as Japanese, Taiwanese and South Korean companies combine for 45.6 percent of the fund's weight.

The new ETF charges 0.88 percent per year, or $88 on a $10,000 investment.

What's Next

Blockchain is a decentralized ledger and is widely used throughout the cryptocurrency space to record transaction data, among other functions. Dozens of industries have adopted the technology, including financial services, health care and technology.

According to a Santander study, blockchain technology could reduce financial services infrastructure costs by over $15 billion a year, and that’s just one industry,” according to Rex Shares. 

Related Links:

An Upgrade For A Big Energy ETF

A New AI ETF Is Here


Related Articles

AMD, Michael Kors, Twitter And Ethereum Classic: 'Fast Money' Picks For August 8

Apple, Chips Stocks Falling Amid Taiwan Semiconductor's Weak Guidance

JPMorgan To Launch Cryptocurrency Exposure Basket With 11 'Bitcoin Stocks' Including MicroStrategy And Square

JPMorgan Chase & Co. (NYSE: JPM) is planning to launch a new product that will give investors exposure to cryptocurrency through eleven Bitcoin proxy stocks. read more

Can You Mine Bitcoin With A Game Boy? This Guy Gave It A Go

It may be common knowledge that mining Bitcoin (BTC) requires a great deal of energy and computer power but it did not deter a person online from trying to do it on an 80’s era  Nintendo Co, Ltd (OTC: read more