Crypto is a ‘long-term play’ we’re building out now: Global X exec
Global X, an ETF issuer, is adopting a gradual approach to expanding its crypto business, aligning with the evolving use cases surrounding blockchain technology. The company last week introduced two separately managed account (SMA) offerings based on digital assets. These SMAs will be accessible through Eaglebrook Advisors’ platform, which is utilized by registered investment advisers (RIAs). One of the indexed offerings holds the two largest crypto assets, while the other’s index gives market capitalization-proportional exposure to the 10 largest tokens, with a cap at 40%. “[The SMAs] are about getting into direct crypto exposure in a way that we thought was responsible,” Scott Helfstein, Global X’s head of thematic solutions, told Blockworks. “This just allows us to provide some tools and begin to build interest in what we think is a long-term play.” The utility of crypto assets will ultimately drive their valuations, he added — a fact not necessarily true today as various u...