The Australian firm’s crypto stock ETF will track companies such as Coinbase, Riot Blockchain and MicroStrategy
BetaShares, a leading Australia-based exchange-traded fund (ETF) provider, is set to launch a crypto stock ETF that will track some of the top blockchain-focused companies in the market today.
A press announcement, published on Wednesday, 13 October, noted that the company’s new product will launch as BetaShares Crypto Innovators ETF.
The fund will trade on the Australian Securities Exchange (ASX) and will be available under the ‘CRYP’ ticker symbol.
“CRYP will be an innovative way for investors to get exposure to the crypto sector in a familiar, liquid and cost-effective ETF structure,” the CEO of BetaShares Alex Vynokur said.
Coinbase and MicroStrategy in initial CRYP portfolio
The CRYP product will track Bitwise’s Crypto Industry Innovators Index, and will target “pure-play crypto companies”, BetaShares said in the announcement.
The portfolio will include companies with 75% or more of revenue earned from services and activities in the crypto market, or those whose crypto holdings constitute 75% or more of net assets. The fund will therefore largely track crypto-centric companies such as exchanges, mining firms, mining equipment makers and other crypto service providers.
The ETF will hold 85% of assets in crypto companies, with 15% in other large-cap companies that have a significant share of their business aligned with cryptocurrencies and blockchain technology.
Among companies to currently make up the ETF are US-based crypto exchange Coinbase, leading BTC mining company Riot Blockchain and Michael Saylor’s Microstrategy.
BetaShares is close to launching the equities ETF six months after applying with the ASX and comes on the back of a similar approval in the US where the SEC gave a nod to the Volt Equity crypto ETF.
The post BetaShares set to launch new crypto stock ETF appeared first on Coin Journal.
Source: CoinJournal: Home
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks