The team at a $3-billion-AUM, commodity-focused fund firm near San Francisco are rolling out an active ETF that offers investors exposure to both one particular commodity and one particular cryptocurrency.

Last week, John Love, president and CEO of USCF [profile], unveiled the launch of the USCF Oil Plus Bitcoin Strategy Fund (WTIB on the NYSE Arca). Walnut Creek, California-based USCF Advisers, LLC serves as investment advisor to the new fund.

Unlike USCF's non-'40-Act ETPs, WTIB is a traditional exchange-traded fund and registered investment company. The new ETF's launch date was December 9, and it comes with an expense ratio of 89 basis points. As of today, WTIB now has about $357,000 in AUM.

Three USCF PMs power WTIB. Those portfolio managers are:

Darius Coby, director of operationrs;

Seth Lancaster, PM; and

Andrew Ngim, managing director.

Love contrasts USCF's new ETF with LETFs that "magnify the risk of a single asset or futures contract."

"WTIB provides 100% exposure to two uncorrelated markets," Love states. "Rather than choosing between oil and bitcoin, you can have both for the same dollar. It's an efficient way to slice-up your portfolio, or to take tactical short-term positions."

Nicholas Gerber, CEO of the Marygold Companies, Inc. — parent of USCF — calls WTIB a "groundbreaking product."

"WTIB underscores our ongoing commitment to expanding The Marygold Companies' footprint in the financial services industry," Gerber states. "Through our subsidiaries, we offer exchange-traded products and funds in the U.S., along with investment advisory services in the U.K., and recently introduced a cutting-edge mobile fintech app in the U.K."

WTIB is an actively managed, non-diversified series of USCF ETF Trust. The new fund's other service providers include:

SS&C's Alps Distributors, Inc. as distributor;

the Bank of New York (BNY) as administrator, custodian, dividend paying agent, and transfer agent;

Cohen & Company, Ltd. as independent accounting firm; and

Dechert LLP as counsel.

 

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