NEW YORK, May 13, 2019 /PRNewswire/ -- USCF, a leading and innovative provider of commodities and alternative investment products, today announced that it is collaborating with Kadena, the first blockchain technology company to come out JP Morgan's Blockchain Center for Excellence.
USCF is known as an early pioneer of ETPs, bringing previously difficult to access asset classes to all investors. The firm broke new ground with the launch of the first oil ETP, the United States Oil Fund, LP (USO), in 2006. Over the next decade, USCF designed and issued fifteen more ETPs and ETFs, across commodity and equity asset classes.
"We see the potential to leverage blockchain in the investment space and identify new opportunities for innovation in asset management," said John Love, President and CEO of USCF. "Kadena has solved scalability and security constraints previously associated with blockchains to offer exciting potential applications."
Kadena's hybrid (public and permissioned) blockchain platform was purpose built to address the scale, security, speed, and ease of use requirements of industrial infrastructure. Kadena's open source smart contract language Pact is unique in being simple and intuitive for both developers and business professionals, while supporting the Formal Verification of user's code.
"At Kadena, we build our partnerships with a focus on production-ready solutions to real problems in the financial markets," said Will Martino, Founder and CEO of Kadena, who has regulatory experience as the former Tech Lead for the U.S. Securities & Exchange Commission's Cryptocurrency Steering Committee. "We are proud to collaborate with USCF in the investment space. USCF has a history of diligent, creative leadership and I see them as financial services market leaders who share our vision of delivering everyday uses of blockchain."
USCF operates on the leading edge of exchange-traded product (ETP) and exchange-traded fund (ETF) innovation. USCF currently manages approximately $3 billion in assets from its headquarters in Walnut Creek, California. For more information, visit www.uscfinvestments.com.
Kadena is here to drive the next round of business and social transformation. Kadena's founders have proven experience building software systems for leading financial and government organizations such as JPMorgan Chase Bank and the U.S. Securities and Exchange Commission. For more information, visit www.kadena.io.
Forward Looking Statements
Statements other than statements of historical facts included in this press release may constitute forward looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
USCF is a registered trademark. All rights reserved.
John P. Love and Katie Rooney are registered representatives of ALPS Distributors, Inc.
Commodity ETP Disclosures:
These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.
Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.
ALPS Distributors, Inc. is the distributor of the Funds but are not affiliated with them or Kadena.
USO001942 Exp 5/31/2021