Exchanges

AdvisorShares co-launches a blockchain-focused ETF

February 8, 2019, 5:16AM EDT

AdvisorShares and Sabertooth have teamed up to launch an actively managed exchange-traded fund (ETF) on the NASDAQ exchange, AdvisorShares announced in a press release. The new ETF, labelled BKCH, will focus on cloud computing and emerging technologies, such as blockchain, and began trading on February 7.

“The investment thesis for BKCH holds that companies utilizing cloud computing and digital companies implementing emerging technology like blockchain can realize increased profitability and appreciation in stock prices over an extended time horizon,” the press release read.

The ETF does not invest in cryptocurrencies but in “U.S.-listed equities and American depositary receipts of digital and cloud companies.”