With help from an ETF startup and an ETF-in-a-box shop, a hedge fund shop focused on the cryptocurrency world just launched its first broadly accessible product: an ETF. And they may use another product structure, too.

The REX BKCM ETF (BKC on NYSE Arca) debuted on Tuesday. BKCM CEO Brian Kelly is the new ETF's PM, REX Shares is the sponsor, and Exchange Traded Concepts (ETC) is the investment advisor. The fund is an actively managed ETF that invests in companies seen to benefit from the rise of blockchain and cryptocurrencies.

"We are considering a mutual fund version of the strategy," Greg King, CEO and founder of REX Shares, tells MFWire.

REX Shares may do more blockchain-related or crypto currency-related products, too, says King, an alumnus of Barclays and Credit Suisse and a founder of VelocityShares, and he's "certainly building out the team." He aims to create funds that "democratize access to compelling investment strategies."

"We actually really like the blockchain space," King says.

King says he's "certainly building out the team" at REX Shares. The firm currently has about 10 people and sponsors six exchange-traded products with about $130 million in combined AUM.

As for the new ETF, its PM, Kelly, is an author, CNBC contributor, and veteran investor and trader. The BKCM team of five people already runs a hedge fund, the BKCM Digital Asset Fund, and this new ETF is BKCM's first '40 Act product.

The time is ripe for an active, blockchain-focused ETF like BKCM, Kelly says, thanks to a recent increase in the number of publicly traded stocks connected to the space.

"Over the last year, we started seeing a change in the market," Kelly tells MFWire. "Things are moving so fast in this space. We can adjust to what is going on in the market."

"This is the first blockchain ETF that's really managed by a professional trader in the crypto space," King says of BKC. 

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