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BetaShares

  •   13 October 2021
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BetaShares to launch crypto-focused equities ETF

SYDNEY, 13 October 2021: Leading Australian ETF Manager, BetaShares, today announced the BetaShares Crypto Innovators ETF is expected to be launched soon on the ASX. The fund, which will trade under the ticker code ‘CRYP’, provides exposure to a portfolio of global companies at the forefront of the crypto economy.

The technology underlying crypto assets has been described as the next technological revolution on the scale of the internet. CRYP will offer investors exposure to this exciting space and is a demonstration of BetaShares’ commitment to bringing innovative investment solutions to market.

BetaShares CEO, Alex Vynokur, said: “The crypto economy is highly dynamic and growing rapidly, and is built using exciting and disruptive technology. CRYP will be an innovative way for investors to get exposure to the crypto sector in a familiar, liquid and cost-effective ETF structure.”

Mr Vynokur continued: “Mark Twain is famous for saying that ‘during the gold rush it’s a good time to be in the pick and shovel business’. CRYP will take a ‘pick and shovel’ approach to the crypto sector, investing in the companies that are driving the crypto economy.”

CRYP will aim to track the Bitwise Crypto Industry Innovators Index (before fees and expenses), developed by Bitwise, one of the largest global crypto-asset managers. CRYP’s index is designed to capture the full breadth of the crypto ecosystem, by providing exposure to pure-play crypto companies, those whose balance sheets are substantially held in crypto-assets, and diversified companies with crypto-focused business lines.

85% of the index is focused on companies that derive at least 75% of their revenue from directly servicing cryptocurrency markets, or that have at least 75% of their net assets in direct holdings of liquid crypto-assets. Such companies include crypto trading venues, crypto mining and mining equipment firms, and service providers. The remaining 15% of the index is invested in diversified large cap companies with at least one significant business line focused on the crypto economy.

Current index constituents include cryptocurrency exchange platform Coinbase (COIN), Bitcoin mining company Riot Blockchain (RIOT) and business intelligence firm Microstrategy (MSTR).

BetaShares expects significant demand for CRYP both from investors who are excited about the prospects for the crypto sector but who are not comfortable holding actual cryptocurrency, and from investors with direct cryptocurrency exposure who are seeking diversification within the broader crypto ecosystem. Given the characteristics of the crypto sector, this fund may be considered by investors who have a relatively high tolerance for risk as part of a broader equities allocation.

Subject to relevant regulatory approvals, the BetaShares Crypto Innovators ETF (CRYP) is expected to start trading on the ASX in the coming weeks.

To find out more or register your interest, click here.

 

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