Global investment firm SkyBridge Capital has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) focused on cryptocurrencies and other digital assets.
According to the Tuesday filing, First Trust SkyBridge Crypto Industry and Digital Economy ETF will invest at least 80% of their net assets into companies related to the digital economy and the crypto industry ecosystem, but not digital assets themselves.
SkyBridge defines the “crypto industry ecosystem” to be companies involved in servicing the crypto-asset markets, including crypto mining firms, crypto mining equipment suppliers, crypto financial services companies, or other financial institutions with primarily crypto-related clientele.
Companies related to the digital economy, according to SkyBridge, are able to provide online banking services, operate digital payment gateways for businesses and others, provide online asset management and trading platforms, and offer software services.
The new fund will operate under the ticker symbol CRPT on the NYSE Arca, an exchange where stocks and options are traded.
Last December SkyBridge invested $182 million into BTC, and in March filed with the SEC to open a Bitcoin ETF.
Other firms have also begun investing in the growing digital asset space, including Atlanta-based Invesco.
SkyBridge also invests in hedge funds, private equity, and real estate, with over $6 billion in assets under management as of July.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/asharku
