The world’s largest asset-management firm BlackRock has launched an exchange-traded fund (ETF) focused on blockchain and crypto companies. The instrument has been listed on the Euronext platform, according to The Block.
\n\n
The iShares Blockchain Technology UCITS ETF tracks the performance of the NYSE FactSet Global Blockchain Technologies index, which is based on the price movements of 35 international companies. The fund’s shares trade under the ticker BLKC.
\n\n
75% of the index’s total weight is formed by blockchain firms’ stocks, including miners and bitcoin exchanges, while 25% comprises companies that support the digital asset ecosystem, including payment services and semiconductor manufacturers.
\n\n
TER stands at 0.5% of AUM.
\n\n
\”Cryptocurrencies and blockchain will become increasingly relevant for our clients as their use cases scale and become more complex,\” said Omar Mufti, product strategist for thematic and sector ETFs at BlackRock.
\n\n
The company managesassets worth $9.5 trillion.
\n\n
In August 2022, BlackRock launched a Bitcoin Trust for institutional clients.
\n\n
Earlier Coinbase agreed to collaborate with BlackRock. Clients of the latter will gain direct access to trading digital assets through the Aladdin portfolio management system.
\n\n
In April 2022, the CEO of the asset-management firm, Larry Fink, said that expansion into the cryptocurrency market was possible. Nine months earlier, he had noted minimal client interest in digital assets.
\n\n
Since February 2021, some BlackRock funds began investing in bitcoin futures.
\n\n
Read ForkLog’s bitcoin news on our Telegram — cryptocurrency news, prices and analysis. Telegram