SALT LAKE CITY, April 5, 2019 /PRNewswire/ -- Coinbook and BLOCK 30 Financial announced today the official US launch of their BLOCK 3 + BLOCK 5 Exchange Traded Index (ETX) products, which will serve as some of the world's first products to provide a "Buy + Hold" basket of digital assets for retail customers.
New Research Shows 57% of People Are Not Investing in The Global Markets
"A recent Blackrock survey found that 57% of people are not investing at all in the global financial markets because they feel it's too expensive and complex," said Ryan Ballantyne, Sr. VP of BLOCK 30 Financial. "That number goes up as high as 99% in terms of people who have not yet bought digital assets worldwide…That's a massive global miss from the incumbents and also a very real economic participation gap under the surface," said Ballantyne.
BLOCK ETX Index Products Simplify Investing For Next Generation Customers
"Our mission is to start filling that gap with these products…You'll see us start first with digital assets, and then expand quickly to US blue chip stocks, foreign stocks, emerging markets, real estate, digital assets and more - in a smart token wrapper (BLOCK Index ETX's) for the customer."
"We wanted to create an FDIC insured, US exchange that made digital assets more approachable, easy and safe for people to purchase," said Calvin Weight, Founder + CEO of Coinbook. "So our investors can get some very basic portfolio exposure to the potential upside of new global markets, without feeling intimidated or overwhelmed."
"One of the proven ways to do that in any new asset class is through buying, holding and diversification. We wanted to provide that in a low cost and frictionless way to our US customer base and we accomplish that today through our partnership with the BLOCK digital index products," said Weight.
Millennials Want Updated Financial Products To Fit Their Consumption Habits
"We looked very closely at customers 40 and under, in terms of how we all consume digital media and make product purchasing decisions…Overwhelmingly, the data shows that aging Wall Street products are striking out big with the next generation of investors," said Brian McLaren Foote, CEO of BLOCK 30 Financial.
"There is an autonomous, 'Nest Thermostat' expectation coming with these next generations of digital wallet holders – putting account balances to work in simple ways on the blockchain - and that market need is just not being met. It's an exciting time to be entering the FinTech space with this new suite of ETX products," Foote continued.
Improving on The Aging Mutual Fund + ETF Model For Modern Customers
"Mutual Funds + ETF's have grown to an over $20 Trillion product line over the last 25 years alone in the United States. But those products have analog limitations, higher barriers to entry and white-collar fee redundancies that younger investors are sniffing out and rejecting. Modern customers want a leaner, more dynamic format and we're excited to try and deliver that with these BLOCK ETX index products across a variety of thematic sectors and asset classes over the coming decades."
BLOCK ETX Index products will be available to all US retail customers on CoinBook - an FDIC insured exchange, headquartered in Salt Lake City, Utah at www.coinbook.com/BLOCK3 and www.coinbook.com/BLOCK5 and expand quickly to other global exchange partners outside the United States. Learn more: www.Block30Financial.com.
BLOCK 30 Financial I Jeffrey Hinshaw I Direct: 510.579.3526 I [email protected]
SOURCE BLOCK 30 Financial