- Two blockchain ETFs are set to start trading Wednesday, but blockchain won't be in their name.
- Eric Ervin, the chief executive officer of Reality Shares, told Business Insider the SEC is wary about the mania surrounding blockchain.
ADVERTISEMENT
2 blockchain ETFs are launching — but the SEC asked them to take blockchain out of their names
Eric Ervin, the chief executive officer of Reality Shares, told Business Insider the SEC is wary about the mania surrounding blockchain.
ADVERTISEMENT
Reality Shares' new blockchain ETF is set to begin trading on Wednesday as expected, but there's a catch.
Blockchain won't be in its name.
The Securities and Exchange Commission requested Reality Shares remove the word "blockchain" from its
ADVERTISEMENT
Still, Ervin thinks a bitcoin ETF will happen.
"It would make that on-ramp process easier for people," he said."I think everyone should have 1-5% of their net-worth here, in cryptocurrencies."
But a bitcoin or blockchain-linked ETF is just the tip of the iceberg, according to Ervin. He said there's going to be a day when stocks are tokenized on the blockchain.
"And then you can have a token that represents shares in many companies, like an ETF," he said. "So maybe that's the next step for the space."
Ervin said his firm is looking at numerous ways it can capitalize on this trend.
ADVERTISEMENT
"This isn't just 'let's launch an ETF,' it is a much bigger deal for us," he said.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
How SafeHamsters unlocks the potential of crypto betting| Insider Tips
A look into the diverse tax reforms being implemented across Africa
Dubai firm to lend South Sudan $12.9 billion in exchange for 20 years oil repayment
China dethrones USA as the most influential global power in Africa: Report
Major African economies expecting inflation ease into next year, except Nigeria
10 African countries with the lowest price changes in household commodities
Dangote refinery outranks Europe's 10 largest refining facilities
Africa may just have the lowest level of cyber threats compared to other regions