ETF firm BetaShares launches a New Crypto fund

The Australian company’s crypto stock ETF will track companies such as Coinbase, Riot Blockchain and MicroStrategy

BetaShares, a leading Australian provider of exchange-traded funds (ETFs), will launch a crypto stock ETF that will track some of the leading blockchain companies in the market.

In a press release issued on Wednesday, October 13, it is stated that the company’s new product as BetaShares Crypto Innovators ETF is hung up.

The Fund is traded on the Australian Securities Exchange (ASX) under the ticker symbol “CRYPP”.

“CRYPP will be an innovative way for investors to gain exposure to the crypto sector in a familiar, liquid and cost-effective ETF structure.”, said the CEO of BetaShares Alex Vynokur.

Coinbase and MicroStrategy in first CRYPP portfolio

The CRYPP product will map Bitwise’s Crypto Industry Innovators Index and will target “pure crypto companies” ab, according to BetaShares in the announcement.

The portfolio will include companies that generate 75% or more of their revenues from services and activities in the crypto market, or whose crypto holdings represent 75% or more of net assets. The fund will therefore mainly pursue crypto-centric companies such as exchanges, mining firms, mining equipment manufacturers and other crypto service providers.

The ETF will hold 85% of the assets in crypto companies and 15% in other large-cap companies whose business is largely focused on cryptocurrencies and blockchain technology.

Companies currently forming the ETF include U.S. crypto exchange Coinbase, leading BTC mining company Riot Blockchain, and Michael Saylor’s Microstrategy.

BetaShares is about to launch the equity ETF six months after applying to the ASX, following a similar approval in the US, where the SEC approved crypto ETF Volt Equity.

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