CNBC contributor Brian Kelly is partnering with exchange traded funds issuer REX Shares on cryptocurrency ETFs.
Last year, REX Shares filed plans for the REX Bitcoin Strategy ETF and REX Short Bitcoin Strategy ETF. Those funds, assuming they come to market, will be actively managed.
In addition to being a CNBC contributor, “Kelly is also the founder of BKCM, an investment firm that specializes in macroeconomics and digital assets. Among BKCM’s offerings is the Digital Asset Fund, a hedge fund that provides investors with exposure to cryptoassets and blockchain companies,” reports Strategic Coin.
The Bitcoin Strategy ETF will hold a portfolio of financial instruments that provide long exposure to movements in the value of bitcoin, along with a portfolio of fixed income instruments. The fund will obtain indirect exposure to Bitcoin price movements through the use of financial instruments that provide access to the price movements, such as futures contracts linked to the price of Bitcoin or an index.
Similarly, the Short Bitcoin Strategy will provide short exposure to the movements in the value of Bitcoins through financial instruments, including short positions in and short exposure to futures contracts linked to the price of bitcoin or an index.