REX Shares, LLC (REX) and Brian Kelly, CEO and Founder of BKCM
Funds, LLC (BKCM), today announced the
launch of the REX BKCM ETF (NYSE Arca:BKC). Brian Kelly will serve
as portfolio manager of the fund, actively managing a portfolio of
companies seeking to profit from, the advancement of blockchain1
technology and the rise of cryptocurrency2 adoption.
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“I get asked all the time on how to invest in blockchain
technology without dealing with storage, the fears of hacking,
hedge funds, etc. My hope is the BKC ETF can provide this desired
equity allocation to institutions and individuals alike,” said
Brian Kelly, CEO of BKCM and BKC ETF Portfolio Manager. “What
excites me most, is that this opportunity may be really early on in
its investment cycle.”
With over 30 industries exploring the use of blockchain, the
emerging technology may fundamentally transform the way business is
transacted. This disruptive innovation could impact supply chains,
healthcare, governments, and financial services companies, among
others.
“Due to the dynamic nature of the global blockchain and
cryptocurrency ecosystem, we wanted a skilled active manager
with deep blockchain experience,” said Greg King, CEO and Founder
of REX Shares. “Having established himself as a leading hedge
fund manager, author, and thought leader in the space, we’re
excited to be partnering with Brian on the BKC ETF.”
“Brian’s deep understanding of the crypto and blockchain
ecosystem, combined with his background as a global-macro portfolio
manager brings true blockchain experience to the ETF world,” said
Thomas Lee, Managing Partner and Head of Research at Fundstrat
Global Advisors. “The BKC ETF really stands out because of the
level of crypto industry connections and access that Brian has at
the wheel.”
About REX Shares
REX Shares believe in empowering investors. We help make the
investing world flat by democratizing access to investment
strategies of all kinds. REX overcomes barriers to deliver
investment products that seek to level the playing field. REX was
founded by Greg King, creator of over 85 exchange-traded products
for Barclays, Credit Suisse, Global X Funds, and
VelocityShares.
About BKCM
Founded by Brian Kelly, BKCM Funds, LLC is an investment firm
specializing in macroeconomics and digital assets. Brian Kelly is
an investor, author, and financial markets commentator. He is an
expert in global financial markets, macro-economics, and digital
currencies. Brian Kelly has over twenty years' experience in
financial markets and is the author of the book The Bitcoin Big
Bang – How Alternative Currencies are About to Change the World. He
is a CNBC contributor and can be seen regularly on Fast Money.
Disclosures & Definitions
1Blockchain is a decentralized, digitally disseminated ledger of
data. The basis of a successful blockchain system is once a new
group of information, or “block”, is added, the information
automatically disseminates and is downloaded to each computer on
the network. This assures that if one computer tried to change
information on a block, the consensus of all the other computers’
blocks would triumph. This process renders all information on a
completed block decentralized and theoretically permanent.
2A cryptocurrency is a digital currency typically utilizing a
Blockchain system for transaction records and cryptography for
security. The major differentiator from physical currency is it
isn’t issued by a central authority and thus theoretically acts
independently of traditional banking and government influence.
Exchange Traded Concepts, LLC serves as the investment advisor
and Vident Investment Advisory & BKCM Funds, LLC serves as sub
advisor to the fund. The Funds are distributed by Foreside Fund
Services, LLC., which is not affiliated with Exchange Traded
Concepts, LLC or any of its affiliates.
Shares are bought and sold at market price (not NAV) and are not
individually redeemed from the Fund. Brokerage commissions will
reduce returns. Rex NAVs are calculated using prices as of 4:00 PM
Eastern Time. The closing price is the Mid-Point between the Bid
and Ask price as of the close of exchange. In addition to the
normal risks associated with investing, international investments
may involve risk of capital loss from unfavorable fluctuation in
currency values, from differences in generally accepted accounting
principles or from economic or political instability in other
nations. In emerging markets, these risks are heightened, and lower
trading volumes may occur. Investments in smaller companies
typically exhibit higher volatility.
Carefully consider the Funds' investment objectives, risk
factors, charges and expenses before investing. This and additional
information can be found in the Funds' summary and full
prospectuses, which may be obtained by calling 1-844-REX-1414. Read
the prospectus carefully before investing.
Cryptocurrency Risk. By virtue of the Fund’s investment in
stocks that derive revenue from cryptocurrency-related activities,
shareholders may be exposed indirectly to the risks of
cryptocurrencies. Cryptocurrencies are extremely new and
nontraditional assets and a potential shareholder’s ability to
evaluate the performance of cryptocurrencies be limited. Digital
assets, represented on a decentralized public transaction ledger
that is maintained by an open source protocol, are substantively
different from traditional assets and investments. Because if the
complex nature of cryptocurrency, an investor in the Fund may face
numerous material risks that may not be present in other
investments. Current IRS guidance indicates that digital assets
such as cryptocurrencies should be treated and taxed as property,
and that transactions involving the payment of cryptocurrency for
goods and services should be treated as barter transactions. This
treatment may create a potential tax reporting requirement in any
circumstance where the ownership of a cryptocurrency passes from
one person to another.
Blockchain Technology Risk. The stocks in which the Fund will
invest will be subject to the risks associated with blockchain
technology, which is a new and relatively untested technology. The
risks associated with blockchain technology may not emerge until
the technology is widely used. Blockchain systems could be
vulnerable to fraud, particularly if a significant minority of
participants colluded to defraud the rest. Access to a given
blockchain requires an individualized key, which, if compromised,
could result in loss due to theft, destruction or
inaccessibility.
An investment in the Fund in is subject to risks including loss
of principal. There can be no assurance the Fund will achieve it's
investment objectives. The Fund can be more volatile than broad
market averages. Additional risks for the Fund include: emerging
markets risk, foreign securities risk, geographic risk,
geopolitical risk, liquidity risk, non-diversification risk,
technology risk, and valuation risk. For a complete description of
these risk please read the prospectus carefully.
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VestedHod Kleinmedia@rexshares.com