Former Wall Street Executive Brian Kelly Ventures Into Blockchain Through An Exchange-Traded-Fund (ETF)

Brian Kelly, a former Wall Street executive and CEO of BKCM Funds, LLC has launched a new blockchain-based exchange-traded-fund (ETF), called REX BKCM ETF with the aim of supporting startups from the seed stage.

Kelly launched the new blockchain-based EFT in partnership withGregg King, the founder of REX Shares. Kelly revealed that the new ETF will manage a portfolio that consists of 30 firms and that they will be managed using blockchain technology, the same technology behind Bitcoin (BTC) and altcoins.

Kelly said that he views the cryptocurrency and blockchain landscape as a very unique opportunity that only comes once in a lifetime. He added that as per his evaluation, he feels that blockchain and cryptocurrencies are the best way to go out of all the asset classes. They cryptocurrencies have so far demonstrated impressive growth rates and also have a lot of potential.

King also released a statement through which he pointed out that Kelly was the ideal person for the partnership consideringthe dynamic nature of the cryptocurrency and blockchain ecosystem. Kelly was ideal because he has already gained a lot of skills as a hedge fund manager at Wall Street. He also has a deep understanding of the blockchain and the cryptocurrency market.

Kelly noted that there are four main pillars involved in the industry and the include enterprise blockchain, Wall Street disruptors, the cryptocurrency mining market and cryptocurrency exchange firms. The former Wall Street executive also stated that the newly launched ETF is active and so they expect to bring more companies on board over time. He also expects the fund to evolve as time goes by.

So far the fund will initially invest in enterprise firms but they eventually plan to invest solely in Bitcoin startups. However, the ETF will not invest in cryptocurrencies directly but will rather invest in firms that are regulated through security offerings. The ETF fund will be accessible to any investors who have a U.S brokerage account including those living outside the U.S.

Kelly acknowledged that many firms have made a lot of progress in blockchain technology development over the past few years. This means it is now easier to generate revenue from the industry, thus the need to take advantage of the opportunities that the blockchain sector has to offer.

Many analysts have warned about the cryptocurrency market due to its highly volatile nature. However, Kelly is not worried and believes that the risks are as high as the rewards.