Brian Kelly, founder and chief executive officer of BKCM (Brian Kelly Capital Management), is teaming up with REX Shares to launch a blockchain startup-based exchange-traded fund (ETF).
According to a press release, published today, the Kelly will serve as a portfolio manager of the REX BKCM ETF, “actively managing a portfolio of companies seeking to profit from, the advancement of blockchain technology and the rise of cryptocurrency adoption”. This means that the fund would not be invested in cryptocurrencies directly, but in companies looking to utilize the technology.
“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.” Kelly said in the press release. “What excites me most, is that this opportunity may be really early on in its investment cycle,” he added.
Kelly subsequently told industry website Coindesk that he would manage a portfolio of roughly 30 companies using blockchain technology and that these would be companies with regulated security offerings. He also said that the ETF would be open to anyone who had a US brokerage account, including investors located outside the country.
Kelly also described blockchain and cryptocurrencies as “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," he said, as quoted by Coindesk.
REX Shares’ chief executive officer Greg King said that that the company wanted “a skilled active manager with deep blockchain experience” and that “we’re excited to be partnering with Brian”, who had established himself as a “leading hedge fund manager, author, and thought leader in the space”.