UK based crypto investment firm announces ETF launch
Wealth Chain Capital, a crypto investment company, is to launch an ETF aimed specifically at the emerging cryptocurrency market.
The firm writes that this makes it the first company globally to launch an ETF aimed specifically at the emerging cryptocurrency market.
Phillip Nunn, chief executive officer at Wealth Chain Capital, says: “In a matter of weeks, the Securities & Exchange Commission (SEC) will announce its decision about whether or not to approve crypto ETFs. Now is the right time for us to establish a fully insured fund for crypto, that can fit within model portfolios and mitigate the volatility that crypto has famously become known for. Not even the Winklevoss twins have managed to do this yet.
“Typically, ETFs have high daily liquidity and low fees, making them attractive for individual investors. They also offer tax benefits, trade like stock and mean investors can track the daily change of a commodity. They give financiers quick and easy exposure to a specific market sector as they are traded in every major asset class, commodity and currency in the world.
“Developing an ETF creates a gateway for institutional money to enter the crypto space in an understandable and secure way. Every financial institution in the world understands funds and establishing the first crypto ETF is a crucial step in bringing in fresh, new capital to the market.”