The world’s largest digital asset manager – BlackRock – reportedly launched a blockchain exchange-traded fund (ETF) for the European market.
The product enables such consumers to gain exposure to companies part of the cryptocurrency sector, including miners and exchanges.
- According to a recent coverage, BlackRock’s newest blockchain ETF is called “The iShares Blockchain Technology UCITS ETF (BLKC).”
- It will track the performance of 35 global entities whose operations are primarily focused on the blockchain space, such as platforms, miners, payment companies, and others.
- The fund is designated for European customers of BlackRock and does not invest directly in cryptocurrencies.
- Omar Moufti – Product Strategist at the company – said the firm is a keen proponent of blockchain technology, which is why the giant has gone down that road:
Related Posts
“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.”
- It is worth noting that the largest stock exchange in Europe – Euronext – listed BlackRock’s ETF on its platform, with a total expense ratio (TER) of 0.50%.
- Earlier this year, the digital asset manager launched another similar fund called “iShares Blockchain and Tech ETF (IBLC).” It allowed consumers to invest in numerous companies, including the popular crypto exchange Coinbase and the leading BTC miner Marathon Digital.
- Prior to that, BlackRock’s CEO – Larry Fink – said the organization is willing to explore the merits of cryptocurrencies, stablecoins, and blockchain technology.
- This came as a surprise since the executive was among the biggest critics of the asset class, previously describing bitcoin as an “index of money laundering.”
The post Investment Behemoth BlackRock Introduces Blockchain ETF in Europe (Report) appeared first on CryptoPotato.
