Source: Kiplinger
This article was originally published on Kiplinger – https://www.kiplinger.com/
Although Bitcoin and several other cryptocurrencies have been around for years, it has taken a long while for the ETF industry to get on board. But it’s finally in the game – sort of.
The Reality Shares Nasdaq NexGen Economy ETF (BLCN, $22.79), which launched just a few days ago, holds stocks such as the aforementioned Overstock and IBM, as well as Intel (INTC) and Cisco Systems (CSCO). None are dedicated cryptocurrency plays, but all of them will benefit from the advent of blockchain as the preferred method of digitally doing business.
The fund was initially intended to include “blockchain” in its moniker, but the Securities and Exchange Commission asked Reality Shares to remove the word to keep the mania to a minimum.
Eric Ervin, CEO of Reality Shares, says about the potential of the newly minted ETF, “Blockchain is still in its infancy, and we are confident it will have far-reaching, disruptive effects in nearly every industry.”
Ervin acknowledges the fund’s holdings don’t derive most of their revenue from cryptocurrencies right now, but also feels the “blockchain ecosystem potentially presents one of the most profound, long-term investment opportunities many of us have or will ever see in our lifetime.”
BLCN charges 0.68% in expenses, or $68 annually on a $10,000 investment.
