S&P Dow Jones, Securitize Partner on Tokenized Crypto Funds
Digital-asset firm Securitize is launching two tokenized funds that will track crypto indexes from S&P Dow Jones Indices.
The funds, which will track the Cryptocurrency Large Cap Ex-MegaCap Index as well as the Kensho New Economies Composite Index from S&P, are among the first such funds and will only be available to accredited investors. The large-cap one gives investors exposure to more than 30 different cryptocurrencies, while the latter is centered around fintech, artificial intelligence and virtual reality, among other things.
Each fund will charge a management fee of 0.5%.
“The new tokenized funds provide investors exposure to a diverse blend of cryptocurrencies and emerging technologies,” Wilfred Daye, head of Securitize Capital, the asset-management arm of Securitize, said in a press release. “In particular, they are a new, efficient option for family offices, institutions and accredited investors looking for exposure to promising cryptocurrencies and exposure to disruptive global companies.”
Securitize has partnered with Anchorage Digital, Copper Technologies and Interactive Brokers on custody and management of the funds’ assets, according to the release.
©2021 Bloomberg L.P.