ETF BetaShares Launches New Cryptocurrency Focused Fund

ETF BetaShares Launches New Cryptocurrency Focused Fund

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The Australian crypto firm ETF will track companies such as Coinbase, Riot Blockchain and MicroStrategy.

BetaShares, an Australian Exchange Traded Fund (ETF) provider, is set to launch a crypto-equity ETF that will follow some of the best blockchain-focused companies on the market today.

press announcement, published On Wednesday, October 13, he indicated that the company’s new product would be launched under the name BetaShares Crypto Innovators ETF.

The fund will be traded on the Australian Stock Exchange (ASX) and will be traded Available Under the indicator symbol “CRYP”.

“CRYP will become an innovative way for investors to gain exposure to the cryptocurrency industry in a familiar, fluid and profitable ETF structure.”Alex Vynokur, CEO of BetaShares, said.

Coinbase and MicroStrategy in the initial CRYP wallet

CRYP product will track Bitwise’s Crypto Industry Innovators Index, target “Pure-play crypto companies”BetaShares said in the announcement.

The portfolio will include companies that own 75% or more of their income from services and activities in the cryptocurrency market, or companies whose crypto holdings make up 75% or more of their net assets. Thus, the fund will largely follow companies focused on cryptocurrency such as exchanges, mining companies, mining equipment manufacturers and other cryptocurrency service providers.

The ETF will hold 85% of the assets in crypto companies, and 15% in other large-cap companies with a significant portion of the business aligned with cryptocurrency and blockchain technology.

Among the companies that currently make up the ETF is a cryptocurrency exchange platform Queen PieceHeadquartered in the United States, it is the leading mining company in the world BTC Michael Saylor Riot Blockchain and Microstrategy.

BetaShares is set to launch this stock ETF, six months after the ASX application was submitted. The launch follows similar approval in the US, where the Securities and Exchange Commission has given the green light to a Volt Equity cryptocurrency ETF.



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