- 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.
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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.
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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
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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.
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"This isn't just 'let's launch an ETF,' it is a much bigger deal for us," he said.
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