{"id":352152,"date":"2021-10-13T11:26:01","date_gmt":"2021-10-13T08:26:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-betashares-etf-to-track-coinbase-riot-and-microstrategy\/"},"modified":"2021-10-13T11:26:01","modified_gmt":"2021-10-13T08:26:01","slug":"new-betashares-etf-to-track-coinbase-riot-and-microstrategy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-betashares-etf-to-track-coinbase-riot-and-microstrategy\/","title":{"rendered":"# New BetaShares ETF to track Coinbase, Riot and MicroStrategy"},"content":{"rendered":"

“# New BetaShares ETF to track Coinbase, Riot and MicroStrategy <\/strong>”
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Six months following its app<\/a>lication with the Australian Securities Exchange (ASX), BetaShares is now close to launching a new crypto-focused exchange-traded fund (ETF).<\/p>\n

According to an Oct. 13 announcement, the official name of the Aussie ETF manager\u2019s new product is BetaShares Crypto Innovators ETF. After relevant regulatory approvals, it would trade under the ticker symbol CRYP on the ASX. <\/p>\n

As with the similar Bitcoin (BTC) or crypto-focused ETFs, BetaShares\u2019 fund aims to provide a level of crypto exposure to institutional investors looking to invest in cryptocurrencies indirectly.<\/p>\n

The new fund will track the Bitwise Crypto Industry Innovators Index, which launched in May as a way to get exposure to the top publicly listed firms operating in the blockchain and crypto industries. <\/p>\n

The announcement highlights crypto exchange Coinbase, Bitcoin mining company Riot Blockchain and Michael Saylor\u2019s MicroStrategy as current index constituents. A majority of the index (85%) consists of companies that derive at least 75% of their revenue from directly serving crypto markets such as crypto exchanges, mining companies and service providers.<\/p>\n

Related: <\/em><\/strong>Bitcoin futures ETF will likely be delayed until 2022 says research firm CFRA<\/em><\/strong><\/p>\n

\u201cThe crypto economy is highly dynamic and growing rapidly and is built using exciting and disruptive technology<\/a>,\u201d said BetaShares CEO Alex Vynokur. He added that the new fund would enable exposure to the crypto sector in a familiar, liquid ETF structure.<\/p>\n

\u201cMark Twain is famous for saying that \u2018during the gold rush it\u2019s a good time to be in the pick and shovel business.\u2019 CRYP will take a \u2018pick and shovel\u2019 approach to the crypto sector, investing in the companies that are driving the crypto economy.\u201d <\/p><\/blockquote>\n

BetaShares submitted its application to the ASX in March. The company didn\u2019t reveal the nature of its fund initially. Vynokur then stressed the significant demand for crypto-focused ETFs, adding that a regulated structure of an ETF is the more appropriate structure for the majority of investors.<\/p>\n