Crescent Crypto Partners With USCF To File Cryptocurrency ETP (Ticker: XBET)
JERSEY CITY, N.J., May 10, 2019 /PRNewswire/ -- Crescent Crypto Asset Management ("Crescent") today announced that it has partnered with USCF to file a registration statement for a cryptocurrency exchange traded product (ETP), the USCF Crescent Crypto Index Fund (NYSE Arca: XBET). Crescent will act as a co-portfolio manager for the fund providing strategic advisory on cryptocurrency operations, trading, and custody.
The fund will offer investors an index solution to obtain cryptocurrency exposure through a public vehicle. XBET will track the Crescent Crypto Core II Index (the Index), which USCF has licensed from Crescent's affiliate, Crescent Crypto Index Services LLC, as its benchmark index. The 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% of the overall cryptocurrency market cap.
"Crescent's mission is to create innovative investment solutions that make cryptocurrencies accessible to mainstream investors," said Christopher Matta, Co-Founder of Crescent. "USCF has a robust ETP infrastructure and a history of pioneering alternative asset funds. This makes them the ideal partner to accomplish that mission through a differentiated product, which offers better diversification than Bitcoin alone."
John Love, President and CEO of USCF, commented, "We consider it a privilege to build a relationship with Crescent. Their team possesses an incredible depth of market knowledge and their indices and insights are a benefit to investors following the cryptocurrency markets. We look forward to leveraging their expertise as we develop and launch exciting new products."
About Crescent
Crescent Crypto Asset Management is a digital asset index provider that manages a suite of private index funds for US and offshore investors. Crescent launched one of the first private index funds in 2017, and continues to develop indices benchmarking the crypto space. The three founders are Goldman Sachs alumni and have additional experience in venture capital and trading. Learn more at https://www.crescentcrypto.com/
About USCF
USCF operates on the leading edge of product innovation as an asset management firm offering investment products across commodity and alternative asset classes. USCF currently manages over $3 billion in assets from its headquarters in Walnut Creek, California.
Contact
Christopher Matta
Co-Founder
Phone: 201-630-0690
Email: ir@crescentcrypto.com
Disclaimer
Please note that the information concerning XBET is subject to change. A registration statement for XBET has been filed with the Securities and Exchange Commission. Shares of the new funds may not be sold until the registration statement becomes effective. There is no guarantee that the registration statement will be declared effective. Please note that the foregoing announcement does not constitute an offer of any securities for sale. The registration statement will contain information about the investment objectives, risks, and expenses of the Funds. IN ADDITION, AN INVESTMENT IN XBET MAY NOT BE SUITABLE FOR RETAIL INVESTORS. XBET WILL HOLD CRYPTOCURRENCIES AND THEREFORE MAY BE RISKIER THAN OTHER EXCHANGE TRADED PRODUCTS THAT DO NOT HOLD CRYPTOCURRENCIES OR INTERESTS RELATED TO CRYPTOCURRENCIES. THE SHARES WILL BE SPECULATIVE SECURITIES. THEIR PURCHASE WILL INVOLVE A HIGH DEGREE OF RISK AND YOU COULD LOSE YOUR ENTIRE INVESTMENT. YOU SHOULD CONSIDER ALL RISK FACTORS BEFORE INVESTING. A potential investor should read the prospectus carefully before investing. Once available, a copy of the Fund's prospectus can be obtained by calling 510.522.9600 or online at www.sec.gov. The registration statement is currently available online at: https://www.sec.gov/Archives/edgar/data/1479247/000117120019000215/i19283_xbet-s1.htm
View original content to download multimedia:http://www.prnewswire.com/news-releases/crescent-crypto-partners-with-uscf-to-file-cryptocurrency-etp-ticker-xbet-300847836.html
SOURCE Crescent Crypto Asset Management
