The team at a $2.39-billion-AUM shop in the Mid-Atlantic is rolling out two additional active ETFs.

Noah Hamman AdvisorShares Founder, CEO

Today, Noah Hamman, CEO of AdvisorShares [profile], confirms the launch of a pair of new funds: the AdvisorShares Managed Bitcoin Strategy ETF (CRYP on the NYSE Arca) and the AdvisorShares Drone Technology ETF (UAV). Both new funds are series of the Bethesda, Maryland-based firm's AdvisorShares Trust, and AdvisorShares Investments, LLC is the funds' investment advisor.

CRYP comes with an expense ratio of 161 basis points. It is subadvised by Morgan Creek Capital Management, LLC and PMed by Mark Yusko, who is founder, CEO, and chief investment officer of Morgan Creek. Per its risk-managed strategy, the fund will tactically invest in U.S. bitcoin-related ETFs (and, potentially, exchange-traded bitcoin futures contract), dialing its bitcoin exposure up and down from zero to 100 percent (i.e. fully invested), with an eye towards providing what Yusko describes as "a smoother investment ride" describe "digital asset seasonality."

Yusko states "that blockchain technology and digital assets present a generational opportunity for investors." Hamman, for his part, lauds Yusko as "at the forefront of innovation."

Meanwhile, UAV comes with an expense ratio of 99 bps (which bakes in a 23-bps fee waiver, which AdvisorShares promises to keep for at least a year). The fund is PMed by Dan Ahrens, who serves as managing director and chief operating officer of AdvisorShares.

Hamman describes drone technology as an "emerging growth opportunity" for investors.

The two new funds' other service providers include: Bank of New York Mellon (BNY Mellon) as administrator, custodian, fund accounting agent, and transfer agent; Foreside Fund Services, LLC as distributor and principal underwriter; Morgan, Lewis & Bockius LLP as counsel; and Tait, Weller & Baker LLP as independent accounting firm. 

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