USCF has filed a registration statement for a cryptocurrency exchange traded product (ETP) in collaboration with Crescent Crypto Asset Management LLC. The USCF Crescent Crypto Index Fund (NYSE Arca: XBET) will track the daily changes in percentage terms of the Crescent Crypto Core II Index, plus interest and less expenses. The Crescent Crypto Core II Index tracks the performance of a market cap weighted basket of Bitcoin and Ether, which are the largest and most liquid cryptocurrencies covering approximately 65 per cent of the overall cryptocurrency market cap. Crescent will act as a co-portfolio manager for the ETP providing strategic advisory on cryptocurrency operations, trading and custody.“USCF’s mission has always been to bring hard-to-reach assets to everyday investors,” says John Love, President and CEO of USCF. “Rather than chase others, we offer products with a better value proposition. In this case, an ETF based on the Crescent Crypto Core II Index offers better diversification than Bitcoin alone.”Christopher Matta, Partner of Crescent Crypto, says: “We believe that cryptocurrencies are an exciting alternative investment. USCF’s culture of innovation, combined with Crescent’s capabilities, will allow more investors to access this asset class.”“Crescent Crypto’s depth and breadth of knowledge in the crypto currency space is unparalleled. We look forward to leveraging their expertise as we develop and launch exciting new products,” added Love.
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