In this episode of ETF Spotlight Podcast, I talked with bitcoin expert Brian Kelly, portfolio manager of the REX BKCM ETF(BKC - Free Report) and Greg King, CEO of REX Shares.
Brian is CNBC cryptocurrencies correspondent and author of the book “The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World.”
Bitcoin had skyrocketed to above $19,500 in December last year from around $1,000 at the beginning of the year. It is now trading around $6,400.
First off, we discussed whether individuals should invest in bitcoin and other cryptocurrencies. We also talked about the ICO market.
Late month, the SEC rejected 9 bitcoin proposals from 3 different issuers. In July, they had reiterated their decision to reject Winklevoss bitcoin ETF proposal. Then last week, they postponed the decision on VanEck/SolidX bitcoin ETF again.
The SEC is mainly concerned about the potential for fraud and manipulation. Custody also remains a potential issue. The agency has also mentioned low trading volumes of bitcoin futures.
Will we see a bitcoin ETF any time soon? What is the SEC looking for?
We then talked about the blockchain technology that underpins bitcoin and other cryptocurrencies, and its transformative potential.
“Blockchain could be more disruptive than the internet,”—Brian explained why.
BKC holds global stocks that generate revenue from cryptocurrency-related and enterprise blockchain technology-related companies. Greg explained how companies are selected for inclusion in the portfolio.
AMD (AMD - Free Report) , Overstock (OSTK - Free Report) , Square (SQ - Free Report) and CME Group (CME - Free Report) are among the top holdings in the portfolio.
BKC is actively managed by Brian Kelly. We discussed the importance of active management in this rapidly evolving space.
While many investors associate blockchain only with bitcoin and other cryptocurrencies, the technology has so has many applications in other areas.
What else should investors know about bitcoin and blockchain? Find out on the podcast.
Please visit https://rexshares.com/ to learn more about BKC and other REX ETFs.
Make sure to tune in for our next podcast. If you have any comments or question, please email firstname.lastname@example.org
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