Wall Street Vet Brian Kelly Launches Blockchain ETF

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Investment director Brian Kelly is launching a brand new blockchain startup based exchange traded fund, he declared Wednesday. Working in partnership with REX Shares founder Gregg King, Kelly will actively manage a portfolio of approximately 30 companies actively utilizing blockchain technology and fitting one of four general standards, he told CoinDesk. The fund will support firms from the seeds period onward. He told CoinDesk: Once I look at the investment landscape, to me blockchain and cryptocurrencies are an once-in-a life time investment opportunity. When I look at every other asset class, to me the most attractive investment is blockchain and cryptocurrency.

The expansion is explosive we will be capable to add businesses to the space” . While right now the fund could be invested in some enterprise businesses, he believes that with time we could become 100% pure play, or invest entirely in the blockchain particular startups. Nevertheless, the Exchange-traded fund won’t be invested in any cryptocurrencies directly, he added – rather, it’d be invested in businesses with security offerings. The fund will be open to anyone who has a U.S. Broker account, he noted, including investors who reside outside the country. An individual doesn’t need to be an accredited investor to participate.

Kelly mentioned the progress companies have made in developing blockchain technology throughout the last year since the reason behind the Exchange-traded fund, stating that firms were eventually getting some revenue from blockchain and cryptocurrency. A year ago you’d some who were doing it, but they did not have significant revenue streams.” . But with a few companies even receiving bank funding, Kelly expressed confidence could put together a diversified portfolio.” . Neither is Kelly concerned on the volatility seen in cryptocurrency markets. Even though his Exchange-traded fund will be invested in businesses working with different crypto assets, he said: With all investments obviously there is danger, and the volatility of bitcoin versus equities could change, historically bitcoin was volatile.

With that being said we do not know exactly what the future holds – like more individuals and much investments come in cryptocurrencies those possibly could become less explosive.” . Greg King, Brian Kelly picture courtesy Hod Klein. The leader in blockchain information is a media outlet that strives for the greatest journalistic standards and complies with a set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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