With everybody (well,almost everybody) anxiously awaiting the launch of a bitcoin ETF, it reminded me of a piece I wrote about a few months ago citing Som Seif from up north in Canada. Once again, if you don’t know who he is, please read below and realize everybody in the ETF world SHOULD know his name. Oh yeah, and if you are still excited about a bitcoin ETF realize that ship has sailed.
(Bill Taylor/ Fintek Capital)
“BYE BYE ETFs! Not tomorrow, not next week, BUT somewhere in the not too distant future, ETFs may become obsolete. So says Som Seif. And, just who is Som Seif? Well he is a Canadian ETF entrepreneur who built one of Canada’s first exchange traded fund companies (Claymore Investments if you want to check) into a $8 billion AUM giant before he sold it to BlackRock. Now his new firm (Purpose Investments), which just passed over $5 billion AUM and on its way to $25 billion, is looking ahead to the future when technology, blockchain and cryptocurrencies may make ETF’s obsolete. Som speculates the ETF industry may go to……ZERO. Yup, that’s 0 (ZERO). Exchange traded tokens (security tokens particularly) are here and their uses have not even hatched yet. Yeah, I know, no one saw bitcoin as viable either. Things are happening North of the border (around the globe actually) and Som is way out in front…”
Full Story At Link Below