Famous Cryptocurrency Bull Initiates Personal Blockchain-ETF
May 17, 2018
Manager of hedge fund BKCM Digital Asset Fund Brian Kelly launches his own blockchain-ETF. The fund portfolio is to involve about 30 companies that employ blockchain in their activities and meet one of the four criteria.
“To me blockchain and cryptocurrencies are a once-in-a-lifetime investment opportunity ... if I look at every other asset class, to me the most attractive investment is blockchain and cryptocurrency. The growth is explosive [and] the potential is enormous,” Kelly told in the interview to Coindesk.
The four criteria include: using blockchain in the main activity, cryptocurrency mining, crypto exchanging and developing decentralized internet. Kelly noted, ETF will not invest into cryptocurrencies directly but will support companies that provide for regulated securities.
He added, the fund will stay open for all investors with broker account in the US including those outside the country. As Kelly put it, the reason for establishing the fund was that the companies that got involved into blockchain technology last year have finally received their first profit. The hedge fund director noted, crypto market volatility does not seem disturbing for him and continued saying that the fund will be investing into companies dealing with various digital assets.