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, which began trading on the New York Stock Exchange (NYSE) today.
This active ETF will be managed using the same long-term, value-oriented and proprietary research-driven philosophy that has guided the management of the company’s other products in the more than 20 years since Horizon Kinetics was launched. The ETF seeks to invest in the equity of companies that can benefit, either directly or indirectly, from the issuance, facilitation, custody, trading and administration of digital assets, including cryptocurrencies.
For more information on BCDF, please visit
“We have been closely following the rise of blockchain technology for many years. In addition to the transformational nature of cryptocurrency, we believe that the use of blockchain technology has the potential to be widespread and meaningful. The move toward tokenization is likely to have a profound impact on operations and security in a number of ways. Blockchain Development Companies facilitate the issuance, transfer and storage of such digital assets by and between other companies. Blockchain development companies may include financial or other exchanges, custodian banks, asset managers, blockchain-related software companies, payment processors and mining companies, among others,” said Murray Stahl, Founder, CEO and Chief Investment Officer of Horizon Kinetics.
“Blockchain provides opportunities for both new and established businesses to create solutions that advance the current capabilities of what we know. The technology is not contingent on the success of an existing token, and our investments will be allocated in a way that is not dependent on a single cryptocurrency or protocol. We believe blockchain is here to stay, although its use is still widely misunderstood by industry participants. Our proactive approach allows us to focus on quality companies with applications that we feel will deliver the most value to our customers over time. Even if this represents an emerging part of the market, which has not necessarily been typical of our investments, we believe that this strategy is fully consistent with our value investing strategy. Our value-driven, fundamental analysis will drive our individual security selection for the fund. Furthermore, we believe that we can identify a number of companies with solid fundamentals and which trade at attractive values in relation to ld to their intrinsic value, says Brandon Colavita, Co-Portfolio Manager.
About Horizon Kinetics LLC
Horizon Kinetics LLC, formed in May 2011, is the consolidated parent company of Horizon Asset Management LLC (founded in 1994) and Kinetics Asset Management LLC (founded in 1996) and various affiliates. Horizon Kinetics is an independently owned and operated investment boutique that follows a long-term, contrarian investment philosophy that its founders established 26 years ago at Bankers Trust Company. Horizon Kinetics has 75 employees and is headquartered in New York City and White Plains, New York. For more information about Horizon Kinetics, visit www.horizonkinetics.com
IMPORTANT RISK INFORMATION
Please carefully consider a fund’s investment objective, risks, costs and expenses. For this and other important information, obtain a statutory and summary prospectus by contacting 646-495-7333. Please read it carefully before investing.
Past performance is not a guarantee of future returns and you may lose money. Opinions and estimates offered constitute our judgment as of the date made 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 recommendations.
Horizon Kinetics Blockchain Development ETF (Symbol: BCDF) is an exchange-traded fund (“ETF”) managed by Horizon Kinetics Asset Management LLC (“HKAM”). HKAM is an investment adviser registered with the US Securities and Exchange Commission. You can obtain additional information about HKAM on our website at www.horizonkinetics.com.
Investment involves risk, including possible loss of principal. Shares in any ETF are bought and sold at market price (not NAV), can be traded at a discount or premium to NAV and are not redeemed individually from the fund. Brokerage commissions will reduce the return. The fund will invest in Blockchain Development Companies. At times, blockchain development companies may be out of favor and underperform other industries or groups of industries or the market as a whole. In such cases, the value of the shares may rise and fall more than the value of the shares in a fund that invests in securities of companies in a wider range of industries. The fund is non-diversified, which means it can concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the fund is more exposed to individual share volatility than a diversified fund. The fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The fund can invest in securities from smaller and medium-sized companies, which can be more volatile than funds that invest in larger, more established companies. The fund is actively managed and may be influenced by the investment adviser’s choice of securities.
HKAM does not provide tax or legal advice, all investors are encouraged to consult their tax and legal advisers regarding an investment in the fund.
No part of this material may be copied, photocopied or duplicated in any form, by any means, or redistributed without the express written consent of HKAM.
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.
