Exchange operator Nasdaq has teamed up with Reality Shares, an investment marketplace, to launch an index to track companies in the red-hot blockchain industry.
The smart-beta index called the Reality Shares Nasdaq Blockchain Economy Index, is planned to provide the basis for an exchange-traded fund by Reality Shares, according to a press release on the news out Monday.
The product has been filed with the Securities and Exchange Commission by Reality Shares.
Smart-beta products have been on the rise on Wall Street as investors seek out alternative investments that are more affordable than managed portfolios, but better-performing than passive index-tracking ETFs.
“The smart-beta approach targets factors, rather than individual stocks,” according to Cary Stier, the global investment management sector leader for Deloitte, the global consultancy and tax advisory firm.”They’re looking to profit off of momentum and volatility.”
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