Brian Kelly, Founder and CEO of BKCM LLC, an independent investment firm specializing in cryptocurrency and blockchain-focused investment opportunities, will manage a new blockchain startup-based exchange-traded-fund (ETF) released by REX Shares.
REX Shares, LLC is a Connecticut-based financial services firm founded in 2014. REX products focus on delivering efficient or concentrated alternative investment strategies to investor and trader portfolios. REX Shares intended to launch an exchange investment fund (ETF) to work with bitcoin earlier, but the US Securities and Exchange Commission refused to approve its application. Now the company is going to launch another ETF, focused on firms operating in the blockchain sector.
“The Bitcoin ETF was technically withdrawn”, REX Shares CEO Greg King said. “But we do have a blockchain ETF that we are hoping to launch in the upcoming weeks. We’re excited about that because we think investors want exposure to this technology and we have partnered with a portfolio manager who runs a crypto hedge fund, so he’s going to be an active manager for this ETF.”
The manager Greg King was referring to is BKCM founder Brian Kelly. He has been gaining experience in trading and managing funds for institutional investors for more than 25 years. Being the portfolio manager of the BKCM Digital Asset Fund, Kelly is also an early investor in the cryptocurrency and blockchain space, as well as a sought-after commentator and keynote speaker.
Working in partnership with Gregg King, Kelly will actively manage a portfolio of roughly 30 companies actively using blockchain technology.
“When I look at the investment landscape, 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 said.
Kelly will also match one of four general criteria which include companies using blockchain to streamline existing business processes, services changing how securities are traded, mining focused entities, and exchange firms and startups creating a decentralized internet.
According to Kelly, the fund will evolve over time. He noted that “this is an active ETF [so] we’ll be able to add companies to the space.” He added: “Over time we might become 100 percent pure play.”
However, the ETF will be invested not in any cryptocurrencies directly, but in companies with regulated security offerings. Anyone who has a U.S. brokerage account, even residing outside the country, willhave access to the fund.
Earlier, Brian Kelly compared cryptocurrency with the “Internet in the 1980s,” saying that Bitcoin (BTC) is still in its early stages. He believes in Bitcoin, as well as crypto analyst Bill Baruch who thinks this currency will cross $11,500 soon.