NEWS
Amplify Launch Two Blockchain-Related ETFs

2018-01-18 01:48:35
by Dominic Brown
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Christian Magoon, Founder and CEO of Amplify ETF, believes that investing now in blockchain will garner future returns as great as those currently coming in from the best-performing tech stocks of today.

Christian Magoon, Founder and CEO of Amplify ETF, believes that investing now in blockchain will garner future returns as great as those currently coming in from the best-performing tech stocks of today. The so-called FAANG companies comprise the world\'s best performers – Facebook, Apple, Amazon, Netflix and Google – and account for 10% of the total US stock market capitalisation.

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Therefore, on January 17th, Magoon revealed on CNBC that Amplify Investments are going to launch two new ETFs (exchange-traded funds) that will invest in companies investing in blockchain. Magoon is so confident that blockchain technology will transform the market that most of Amplify\'s holdings in the new ETFs aren\'t actually blockchain companies. They include IBM, Nvidia, Overstock, Citigroup and Square, amongst others, who are known for much wider interests than just blockchain technology.

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But Magoon thinks that will all change. Investment and research are leading indicators, in his view, of who\'s going to win the race for blockchain implementation. Just as investing in the internet in its early days led to shares in companies like Amazon, investing in those doing the research is likely to pay off when that tech takes over.

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The forward-thinking CEO also said that Amplify is applying particular diligence to avoiding the pitfalls of fraudulent behaviour so prevalent in cryptocurrency, blockchain and investment today.

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