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Getting turned off of BKC
$BKC from it's prospectus
The Fund may invest indirectly in bitcoin exclusively through investments in the Bitcoin Investment Trust (“GBTC”), a privately offered, open-end investment vehicle. However, because investments in GBTC are not contemplated by the generic listing standards imposed by NYSE Arca, Inc. (the “Exchange”), the Fund requires relief from the U.S. Securities Exchange Commission (“SEC”) to make such investments. As of the date of this Prospectus, the Fund has applied for but not yet obtained this relief. The Fund will not invest in GBTC until such time as it receives the necessary relief from the SEC and there can be no guarantee that the SEC will grant such relief.
GBTC is a Delaware Trust that holds bitcoin. GBTC’s investment objective is for the net asset value per share to reflect the performance of the market price of bitcoin, less GBTC’s expenses. Except for its investment in GBTC, the Fund will not invest, directly or indirectly, in cryptocurrencies. The Fund will not make additional investments in GBTC if as a result of such investments the Fund’s aggregate investment in GBTC, either directly or indirectly through the Subsidiary as described below, would be more than 15% of the Fund’s assets at the time of investment. In addition, the Fund will invest in GBTC only to the extent BKCM believes such an investment complements the Fund’s other investments and will help the Fund to achieve its investment objective. As a result, at times the Fund may have little or no exposure to GBTC.
The Fund may obtain exposure to certain investments, including GBTC, by investing up to 25% of its total assets, as measured at the end of every quarter of the Fund’s taxable year, in one or more wholly-owned and controlled Cayman Islands subsidiaries (each, a “Subsidiary”). Any Subsidiary will be advised by the Adviser and will be managed on a day-to-day basis by the Sub-Adviser, and will have the same investment objective as the Fund. Unlike the Fund, a Subsidiary may invest to a greater extent in commodities than the Fund. The Subsidiary’s investments in such instruments will be subject to limits on leverage imposed by the 1940 Act. To the extent the Fund invests in a Subsidiary, such investment is expected to provide the Fund with an effective means of obtaining exposure to certain cryptocurrency investments in a manner consistent with U.S. federal tax law requirements applicable to a regulated investment company (“RIC”).
Current list holdings
https://www.rexshares.com/BKC/BKC_Holdings
There was professor there who taught a course. Hank Pruden
You can get college credit at SF STATE for the past 30 years
by taking WYCKOFF
I read his autobiography. Years ago. Too many years ago.
WYCKOFF started on WALL STREET in 1888
see
https://investorshub.advfn.com/TRADING-WYCKOFF-29869/
As in Richard Wyckoff?
Looks like fund is geared towards blockchain participating companies, not bitcoin itself.
BKC
The REX BKCM ETF (BKC) seeks to provide total return by obtaining investment exposure to a global set of equity securities which attempt to generate revenue or increased profit from cryptocurrency-related and enterprise blockchain technology-related companies.
Goodbye GBTC premium! @BKBrianKelly #blockchain equity ETF starts trading soon @NYSE under ticker $BKC! Learn more at http://bit.ly/2rryT5y
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05/08/18
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