Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Blockchain & Bitcoin Strategy ETF (BITS). The fund will be actively managed and among the first ETFs designed to provide long-term investors with access to both bitcoin futures as well as companies positioned to potentially benefit from advances in blockchain technology.
BITS’ approach to owning both bitcoin futures and blockchain equities offers investors a thematic approach to the rapidly emerging digital assets space. Bitcoin, the world’s largest cryptocurrency, continues to benefit from greater adoption as both a means of transacting as well as a long term investment, especially by investors seeking growth potential and diversification from an alternative asset. Blockchain equities, such as those involved in: 1) digital asset mining; 2) blockchain and digital asset transactions, hardware, and integration; and 3) blockchain applications and software services, are well-positioned to benefit from advances in and expanded use-cases for blockchain technology.
“The blockchain and digital asset theme is reaching a critical inflection point as adoption accelerates across millions of people and businesses around the world. We believe investors looking to participate in the full disruptive potential of this powerful theme ought to gain exposure to both the companies and digital assets leading these advancements,”
“Leveraging our expertise in thematic investing, Global X has developed an efficient strategy with long term, growth-oriented investors in mind.”Jay Jacobs, Head of Research & Strategy at Global X
BITS has a management fee of 0.65%.
Global X Blockchain & Bitcoin Strategy ETF: The Global X Blockchain & Bitcoin Strategy ETF (BITS) is an actively-managed product that seeks to capture the long-term growth potential of the blockchain and digital assets theme. The Fund takes long positions in U.S. listed bitcoin futures contracts as well as invests in companies positioned to benefit from the increased adoption of blockchain technology. BITS will not invest directly in bitcoin.