Find the best broker for your trading or investing needs Brian Kelly, the CEO and founder of BKCM and a CNBC contributor, has launched a new actively managed blockchain startup-based exchange traded fund (ETF) called the REX BKCM ETF (BKC). BKCM LLC is an investment firm focused on digital currencies.
The ETF is being launched in partnership with REX Shares founder Gregg King, and will be comprised of investments in around 33 blockchain- and cryptocurrency-related companies. The fund seeks to generate total return by investing in stocks of global companies which attempt to generate revenue and profit from cryptocurrency-related and enterprise blockchain technology-related projects and businesses.
It will support firms from the seed stage onward. The ETF will trade on NYSE ARCA exchange under the ticker symbol BKC and will have an expense ratio of 0.88 percent.
At the time of launch on Wednesday, the top five holdings of the fund included the Taiwan Semiconductor Manufacturing, Global Unichip, GMO Internet, Overstock.com (OSTK) and SVB Financial Group (SIVB ), each with an 8 percent weighting. The other notable names in the holding list include Square Inc. (SQ) and chipmaker Advanced Micro Devices (AMD).
“I get asked all the time on how to invest in blockchain technology without dealing with storage, the fears of hacking, hedge funds, etc. My hope is the BKC ETF can provide this desired equity allocation to institutions and individuals alike,” Kelly said in a statement. Read more from investopedia.com…
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