Alternative Investments/Digital: BetaShares To Soon Launch Crypto ETF On The ASX
The ETF will invest in companies including Coinbase, Riot Blockchain, and MicroStrategy.
BetaShares is to launch the BetaShares Crypto Innovators ETF (ASX: CRYP) on the ASX. The fund will track the Bitwise Crypto Industry Innovators Index (BITQ). (Stockhead)
The index is designed to capture the full breadth of the crypto ecosystem, by providing exposure to pure-play crypto companies, those whose balance sheets are held at least 75% in crypto-assets, and diversified companies with crypto-focused business lines.
The announcement from Betashares says investors will get exposure to a portfolio of global companies at the forefront of the rapidly emerging crypto economy in a familiar, liquid ETF structure.
Betashares Crypto Innovators ETF
Speaking to the AFR, BetaShares chief executive Alex Vynokur said: “Genuine investor demand is growing and it makes sense for us to offer them exposure to the most important development since the launch of the internet.”
“Mark Twain is famous for saying that ‘during the gold rush it’s a good time to be in the pick and shovel business,’ Vynokur added. “CRYP will take a ‘pick and shovel’ approach to the crypto sector, investing in the companies that are driving the crypto economy.”
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