More cryptocurrency funds arrive on the market: wallet products
What would you like to know
- Alpha Architect has plans for an ETF that invests in companies associated with cryptocurrency mining; Osprey Funds, sponsor of the Osprey Bitcoin Trust.
- The RIA Digital Assets Council has partnered with the New York Institute of Finance for its certificate program.
- Schwab and Nuveen add new funds.
In another twist on the rush to sponsor a cryptocurrency ETF, Alpha Architect has filed a request with the Securities and Exchange Commission to launch an ETF that invests in companies associated with mining cryptocurrencies rather than in cryptocurrencies themselves.
The Alpha Architect ETF Trust plans to invest at least 80% of its assets in stocks of companies “actively involved in the entire spectrum of cryptocurrency mining, from computer chip producers (foundries) to hardware manufacturers. IT (manufacturers) ”, invest directly in market players themselves creating cryptocurrencies (miners), but it will not invest directly in cryptocurrencies. Its sub-advisor will review companies based on environmental, social and governance factors, depending on the filing.
Empowered Funds LLC, which operates as Alpha Architect, will act as the fund’s investment advisor, and New Gen Minting LLC, known as Viridi Funds, will act as the fund’s sub-advisor. Quasar Distributors LLC will be the distributor.
Brandon Koepke, computer systems analyst at Alpha Architect, is listed as ETF portfolio manager while Wesley Gray, former assistant professor at Drexel University, is listed as chairman and trustee of the trust and CEO of Viridi; John Vogel is the treasure house of the trust and its chief investment officer.
Alpha Architect has two relatively small ETFs (less than $ 250 million each) – the Alpha Architect US Quantitative Val ETF (QVAL) and the Alph Architect International Quant Val ETF (IVAL).
Morningstar gives both ETFs a negative rating with one star for the national version and two stars for the international fund. Its review of the two funds notes “questionable investment process and a weak portfolio management team” although priced competitively compared to its peers.
Osprey Funds adds Osprey Polkadot Trust
Osprey Funds, sponsor of the Osprey Bitcoin Trust (OBTC), launched the Osprey Polkadot Trust which invests exclusively in DOT, the native token of the Polkadot network. The network is one of a number of competing blockchains, including Ethereum, which aim to develop a cryptocurrency ecosystem, and it is one of the most recent introduced last year.
Coinbase, one of the largest online platforms for buying, selling and storing digital currencies, will serve as the custodian of the trust.
“With limited access points to invest in DOT currently, the Osprey Polkadot Trust will allow accredited investors who want DOT exposure to obtain titled and controllable property through an investment vehicle based on DOT. United States, ”said Greg King, CEO of Osprey, in a statement. He added: “Osprey is just beginning a series of compelling investment funds that will provide access to some of the most interesting coins and tokens” as “the appetite for next generation investment vehicles” grows. .
DOT is the eighth largest cryptocurrency with a market cap of over $ 31 billion, according to Osprey Fund. DOT is priced at just over $ 36, compared to over $ 56,000 for BItcoin, which has a market cap of over $ 1 trillion currently,
Ric Edelman’s RIA Digital Assets Council partners with the New York Institute of Finance
The RIA Digital Assets Council, founded by Ric Edelman, has partnered with the New York Institute of Finance for the Council Certificate in Blockchain and Digital Assets Course.
The 11-module online self-study program for financial advisers covers blockchain technology, bitcoin, and other digital assets. It aims to make advisors knowledgeable in key areas of practice management, including tax, regulatory and compliance issues, as well as how to add digital assets to client portfolios and explain this new class. of assets to customers.
“Investors now expect their financial advisers to give them advice on Bitcoin,” said Edelman, also founder of Edelman Financial Engines, in a statement. He added that the first class of the certification program “will soon be able to demonstrate its expertise in blockchain and digital assets to its customers.”
The program provides 13 CE credits and certified members are Board members, granting them exclusive benefits such as member-only educational and networking events, presentations to leaders of the crypto community, direct access to brochures, graphics and other content. for use with clients. The inaugural class has 500 members, including financial advisers from France, Great Britain, Mexico, Puerto Rico, South Africa, South Korea and Australia.
Schwab Launches International Dividend Equity ETF
Schwab Asset Management has launched the Schwab International Dividend Equity ETF (SCHY), which trades on the NYSE Arca and has an operating expense ratio of 0.14%.
“We are delighted to bring our latest ETF to the market for investors looking to choose more income-seeking investment strategies,” said David Botset, senior vice president of product strategy for Schwab Asset Management, in a statement.
The Schwab International Dividend Equity ETF seeks to replicate the total return of the Dow Jones International Dividend 100 Index and is the 26th ETF managed by Schwab Asset Management.
Nuveen adds closed-end fund focused on impact investing
Nuveen, TIAA’s global investment manager, launched the Nuveen Core Plus Impact Fund (NPCT), which now trades on the New York Stock Exchange (NYSE).