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).
Launched in partnership with REX Shares founder Gregg King, the ETF will have investments in around 33 blockchain and cryptocurrency-related companies.
The fund plans 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.
Selection of companies eligible for making investment should meet one of the following four criteria:
- Enterprise blockchain, or companies using the technology to streamline existing business processes;
- Wall Street disruptors, like those developing or offering services on changing how securities are traded (like Overstock.com’s tZero exchange system);
- Mining focused entities; and
- Exchange firms and startups creating a decentralized internet.
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