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Wall Street star Brian Kelly partners with REX Shares to launch blockchain-based ETF

The ETF portfolio will include Overstock.com, SVB Financial Group and 30 other companies
Blockchain link
Several blockchain ETFs have been launched in the US this year

Wall Street heavyweight Brian Kelly is starting a blockchain-based exchange-traded fund.

Kelly’s independent investment firm BKCM fund, which focuses on cryptocurrency and blockchain, will partner with ETF provider REX Shares.

The author of “The Bitcoin Big Bang” had been asked by investors how to begin investing in blockchain technology without the hassle of storage, cybersecurity and other issues.

Blockchain acts a public ledger of data that records transactions across a network of computers. It is decentralized, meaning that there is no one person with the power to alter the records.

READ: Facebook realigns management structure, creates blockchain team

“What excites me most is that this opportunity may be really early on in its investment cycle,” said Kelly in a statement.

The fund manager will work alongside REX Shares founder Greg King to manage a portfolio of 32 companies with the use of blockchain technology.

The ETF includes companies like Overstock.com Inc (NASDAQ:OSTK), SVB Financial Group (NASDAQ:SIVB), Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) and GMO Internet Inc (TYO:9449).

“BKC ETF really stands out because of the level of crypto industry connections and access that Brian has at the wheel,” said Fundstrat managing partner Thomas Lee in a statement.

There have been four blockchain ETFs established in the U.S. this year, including Innovation Shares NextGen Protocol ETF (KOIN) which uses artificial intelligence to choose stocks.

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