The world’s largest asset manager, Blackrock, has launched a blockchain exchange-traded fund (ETF). The fund, trading on the NYSE Arca, gives investors exposure to “companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies.”
Blackrock Launches Blockchain ETF
Blackrock, the world’s largest asset manager with $10 trillion in assets under management, announced the launch of its Ishares Blockchain and Tech ETF (ticker: IBLC) Wednesday. The exchange-traded funds (ETFs) are now available for trading at the NYSE Arca.
Explained the asset manager:
Ishares Blockchain and Tech ETF aims to monitor the investment performance of an Index made up of U.S. and Non-U.S. businesses that have been involved in development, innovation and use of crypto and blockchain technologies.
At the time of writing, the new blockchain ETF’s top holdings include Coinbase Global, Marathon Digital Holdings, Riot Blockchain, USD Cash, Galaxy Digital Holdings, International Business Machines, Hive Blockchain Technologies, Bitfarms, Paypal Holdings, Canaan, Nvidia, Advanced Micro Devices, Block Inc., Hut Mining, Argo Blockchain, and Cleanspark. Blackrock stated that the blockchain ETF doesn’t invest in cryptocurrency directly.
Rachel Aguirre, head of U.S. Ishares Product at Blackrock, commented: “The expansion of our megatrends line-up today reflects the power of the millennial and rise of the self-directed investor, whose buying habits have reshaped mainstream consumer behaviors, and in turn, the companies in which they invest.” She added:
These forward-looking themes are now the time to invest before the market realizes their potential.
The world’s largest asset manager has been looking into offering clients exposure to the crypto sector. “Blackrock is studying digital currencies, stablecoins, and the underlying technologies to understand how they can help us serve our clients,” CEO Larry Fink said in March.
Blackrock joined a group of companies that included Fidelity in the $400 million financing round for Crypto firm Circle Internet Financial. Circle Internet Financial was the issuer and the issuer USDC.
“In addition to its corporate strategic investment and role as a primary asset manager of USDC cash reserves, Blackrock has entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC,” the crypto firm noted.
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