Alternative Investments/DA: BlackRock Debuts Blockchain ETF In Europe
The new ETF from BlackRock will invest in 35 companies involved in the development, innovation, and utilization of blockchain and crypto technologies.
BlackRock (NYSE: BLK), the largest asset manager in the world, launched last week the iShares Blockchain Technology UCITS ETF [BLKC] targeted at European investors looking for exposure to blockchain and crypto technologies. (Finextra)
iShares Blockchain Technology UCITS ETF [BLKC]
The ETF tracks the NYSE® FactSet® Global Blockchain Technologies Capped Index, and does not invest in cryptocurrencies.
Blockchain, or distributed ledger technology offers immense promise for efficiencies in the capital markets and has already enabled decentralized payment systems, underlying a notional US$1tn market cap for cryptocurrencies and digital assets.
BLKC will invest in 35 global companies from developed and emerging markets with 75% exposure to companies whose primary business is related to blockchain, such as crypto miners and exchanges, and 25% exposure to companies who support the blockchain ecosystem, such as payments and semiconductor companies.
Listed on Euronext, the ETF has a total expense ratio (TER) of 0.50%.
Omar Moufti, product strategist for thematic and sector ETFs at BlackRock, said: ‘We believe digital assets and blockchain technologies are going to become increasingly relevant for our clients as use cases develop in scope, scale and complexity. The continued proliferation of blockchain technology underscores its potential across many industries. The exposure offered by the iShares Blockchain Technology UCITS ETF will allow our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem.
Separately, according to a Bloomberg report, Blackrock may also be mulling the float of a Metaverse-themed ETF, to be titled the iShares Future Metaverse Tech and Communications ETF.
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