Brian Kelly’s BKCM Funds and strategic investment play REX Shares have teamed up on what’s to be called the REX BKCM ETF — a blockchain and crypto exchange-traded fund. The ETF, which is to be listed on the NYSE Arca exchange, is to have Kelly as as a portfolio manager of investments into the distributed ledger ecosystem.
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A New ETF for a New Way
As Brian Kelly’s pivoted from a traditional investor into a cryptoverse denizen, he’s become increasingly vocal about the many possibilities of cryptocurrencies and their underpinning tech, blockchain.
Now, though, Kelly’s actions are speaking louder than words. That’s because the macro-minded financial analyst, in his capacity as CEO of his own BKCM fund, is collaborating with REX Shares on a blockchain ETF.
The idea, of course, is to allow mainstream investors a streamlined way to capitalize on the ongoing blockchain boom.
As Kelly put it:
“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. What excites me most, is that this opportunity may be really early on in its investment cycle.”
Tom Lee Chimes In
Fundstrat Global Advisors co-founder and cryptocurrency analyst Tom Lee was bullish on news of the ETF, commenting that the “BKC ETF really stands out because of the level of crypto industry connections and access that [Kelly] has at the wheel.”
Lee also went further on Twitter, writing that such an ETF makes “increasing sense”:
Congrats @BKBrianKelly… ETFs that get exposure to crypto/blockchain via equities make increasing sense as many of the successful projects/enterprises in crypto are equities—crypto exchanges, payment platforms, custody, wallets, etc https://t.co/xJF6Xwt8v2
— Thomas Lee (@fundstrat) May 16, 2018
Which begs the question … if such an ETF makes a lot of sense to those like Lee and Kelly, is there a large wave of more to come?
If that’s the case, it makes sense to get in early for first-mover advantages. We’ll have to keep our eyes peeled and see how popular the REX BKCM ETF is going forward.
REX Shares No Stranger to ETFs
REX Shares has had its share of experience in devising ETFs, having created more than “85 exchange-traded products for Barclays, Credit Suisse, Global X Funds, and VelocityShares” over the past several years, per today’s announcement release.
Naturally, that experience made REX an ideal collaborator for Kelly’s BKCM. And in kind, REX founder Greg King noted Kelly was an ideal fit for the partnership, too.
“Having established himself as a leading hedge fund manager, author, and thought leader in the space, we’re excited to be partnering with Brian on the BKC ETF,” King said.
What’s your take? How will increased mainstream access to the cryptoverse affect the space in the long run? Let us know what you think in the comments below.
Images via u/yeahbuddy186, CNBC
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