The exact name of the fund is the Nasdaq NexGen Economy ETF. It launched at the beginning of the year. Reality Shares’ chief executive officer Eric Ervin was interviewed by the Wall Street Journal.
Let’s go over what Ervin told the Journal.
What’s in a name?
Apparently a lot.
Ervin told the Journal that finding the right name was very important.
He said:
“There’s a rule where basically 80% of the fund has to be invested in what the name of the fund is. So, if you call your fund an international ETF, then 80 % of the fund has to be in international names.”
Time horizon
Reality Shares’ fund is $125 million, and it tracks the Nasdaq Blockchain Economy Index. This fund is a basket of companies weighted according to what’s called the Blockchain Score, notes the Journal.
The fund is one of many new ETFs being launched.
Ervin said:
“You’re investing in a 10- to 15-year theme here. We’re looking at an advisory business, as well as offering our ETF in a tokenized format on a Blockchain exchange. We might be the first ever ETF on an exchange like that.”
Spreading the word
Ervin has been making the rounds lately, spreading the word about his Blockchain ETF. We reported to you about him giving his thoughts to Bloomberg in January.
“I’m not an anti-cryptocurrency person at all, but we are big believers in the technology. If you think about the technology versus the cryptocurrency itself, the cryptocurrency is as far out on the speculative spectrum as you could possibly go.”
Ervin is counting on institutions to help drive the demand for the development of certain swap products. He added that financial advisors like this setup because it allows them to answer their clients’ demand for “get me into that cryptocurrency thing!”
Reality Shares wants to invest 100% in companies that are using or implementing Blockchain technologies. The U.S. Securities and Exchange Commission wants to know the percentage of the firm’s revenue is coming Blockchain technologies.
This article appeared first on Cryptovest
