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DeFi & Crypto based ETF intends to be launched by Amplify ETFs

DeFi & Crypto based ETF intends to be launched by Amplify ETFs


Seeking Alpha
2021-09-22 19:08:41
DeFi & Crypto based ETF intends to be launched by Amplify ETFs

Amplify ETFs intends to launch the Amplify Decentralized Finance & Crypto Exposure ETF which invests in the Grayscale Bitcoin Trust (OTC:GBTC) and other entities involved in what it calls the "decentralized finance" space. A prospectus filed with the U.S. Securities and Exchange Commission said that initially, the actively managed fund expects to invest up to 15% of its assets in GBTC and Canadian Bitcoin ETFs. The ETF aims to offer investors another way to gain indirect exposure to crypto-assets like Bitcoin (BTC-USD) and Ethereum (ETH-USD). At some level, the fund will find itself competing for market share against other funds in the crypto and de-finance arena. Some such funds are the ETF Series Solutions - Defiance Quantum ETF (NYSEARCA:QTUM) and Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ). However, Amplify didn't say what the new ETF's ticker symbol or expense ratio will be. Daily price action: GBTC +4.43%, BTC-USD +2.15%, ETH-USD +4.23%, QTUM +0.91%, and BITQ +3.43%. Amplify also recently

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