REX Financial CEO: ETF Issuers Must Choose Carefully, Most Cryptocurrencies 'Quite Unreliable'

BlockBeats News, August 26th, according to Cointelegraph, REX Financial CEO Greg King stated that issuers of cryptocurrency exchange-traded funds (ETFs) should carefully consider which cryptocurrencies to include in their funds' exposure, as most cryptocurrencies are "quite unreliable."

Greg King said in an interview with Bloomberg's ETF IQ on Monday: "Cryptocurrencies outside the top ten are quite unreliable, especially those outside the top twenty. Issuers need to make strict selections when choosing the underlying assets." He also stated that he believes ETF applications for various cryptocurrencies will not experience "explosive growth," but expects "many funds for each type of coin."