BlackRock Launches Blockchain Technology ETF For European Clients

BlackRock has made another move into crypto, this time launching an ETF for European customers that includes exposure to blockchain and crypto companies.

According to a press release, the iShares Blockchain Technology UCITS ETF is designed to track the New York Stock Exchange FactSet Global Blockchain Technologies capped index. The index contains 35 firms from around the world and is traded on Euronext under the symbol BLKC.

The index is 75% exposed to firms whose principal activity is tied to blockchain, such as cryptocurrency miners and exchanges. It also has a 25% exposure to firms that serve the blockchain ecosystem, such as payment or semiconductor companies.

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,”

According to him, the exposure would allow BlackRock clients to interact with global organizations that are driving the growth of the blockchain ecosystem.

In August, the investment manager also created a private trust allowing institutional customers in the United States exposure to spot Bitcoin, and it used Kraken’s CF Benchmarks for its index pricing product.

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