NEW YORK–(BUSINESS WIRE)–Horizon Kinetics LLC announced the launch of its second exchange-traded fund (ETF), the Blockchain Development ETF (BCDF), an actively managed fund, trading on the New York Stock Exchange (NYSE) today.
This active ETF is managed using the same long-term, value-based and proprietary, research-driven philosophy that has guided the management of the company’s other products for the more than 20 years since Horizon Kinetics was founded. The ETF seeks to invest in the equity of companies that could benefit, either directly or indirectly, from the issuance, facilitation, custody, trading and management of digital assets, including cryptocurrencies.
For more information on BCDF, visit https://horizonkinetics.com/products/etf/bcdf/.
“We have been closely following the advent of blockchain technology for many years. In addition to the transformative nature of cryptocurrency, we believe the applications of blockchain technology have the potential to be widespread and substantial. The move toward tokenization is likely to have profound operational and security implications in a variety of ways. Blockchain development companies facilitate the issuance, transfer, and custody of such digital assets by and between other companies. Blockchain development companies may include financial or other exchanges, custodians, asset managers, blockchain-related software companies, payment processors, and mining companies, among others,” said Murray Stahl, founder, CEO and chief investment officer at Horizon Kinetics.
“Blockchain offers both new and established companies opportunities to develop solutions that expand the current possibilities of our knowledge. The technology is not dependent on the success of any established token and our investments are distributed in a way that is not dependent on any single cryptocurrency or protocol. We believe blockchain is here to stay, even if its use is still largely misunderstood by industry participants. Our active approach allows us to focus on quality companies with applications that we believe will provide the most value for our customers over time. While this represents an emerging part of the market that was not necessarily typical of our investments, we believe this strategy is fully consistent with our value investing strategy. Our value-based fundamental analysis will drive our individual security selection for the fund. Additionally, we believe we can identify a variety of companies with solid fundamentals trading at attractive valuations relative to their intrinsic value,” added Brandon Colavita, Co-Portfolio Manager.
About Horizon Kinetics LLC
Horizon Kinetics LLC, incorporated in May 2011, is the consolidated parent company of Horizon Asset Management LLC (incorporated 1994) and Kinetics Asset Management LLC (incorporated 1996) and various affiliated companies. Horizon Kinetics is an independently owned investment boutique that adheres to a long-term, contrarian and fundamental investment philosophy established by the founders at Bankers Trust Company 26 years ago. Horizon Kinetics employs 75 people and has principal offices in New York City and White Plains, New York. For more information on Horizon Kinetics, visit www.horizonkinetics.com
IMPORTANT RISK NOTICES
Please review carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, a statutory sales summary prospectus can be obtained by contacting 646-495-7333. Read it carefully before investing.
Past performance is no guarantee of future returns and you can lose money. The opinions and estimates offered represent our judgment at the time of submission and are subject to change without notice. This information should not be used as a general investment guide or as a source of specific investment advice.
The Horizon Kinetics Blockchain Development ETF (symbol: BCDF) is an exchange traded fund (“ETF”) managed by Horizon Kinetics Asset Management LLC (“HKAM”). HKAM is a registered investment adviser with the US Securities and Exchange Commission. For more information about HKAM, please visit our website at www.horizonkinetics.com.
Investing involves risk, including the possible loss of capital. Shares of an ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemed by the Fund. Broker commissions reduce returns. The fund will invest in blockchain development companies. At times, blockchain development companies can fall out of favor, outperforming other industries or industry groups, or the market as a whole. In such event, the value of Shares may rise or fall more than the value of Shares in a Fund that invests in securities of companies across a broader range of industries. The fund is undiversified, which means it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the fund is more exposed to the volatility of individual stocks than a diversified fund. The Fund invests in foreign securities, which involve greater volatility and political, economic and currency risks and different accounting policies. These risks are greater when investing in emerging markets. The Fund may invest in the securities of small and mid-capitalization companies, which may be more volatile than funds that invest in larger, more established companies. The Fund is actively managed and may be affected by the Investment Adviser’s security selection.
HKAM does not provide tax or legal advice and all investors are advised to consult their tax and legal advisers regarding any investment in the Fund.
No part of this material may be copied, photocopied or transmitted in any form or by any means without the express written consent of HKAM.
The Horizon Kinetics Blockchain Development ETF (BCDF) is distributed by Foreside Fund Services, LLC (“Foreside”). Foreside is not affiliated with Horizon Kinetics LLC or its subsidiaries.