Blackrock, an investment company based in New York City has submitted a request to the Securities and Exchange Commission (SEC), for a crypto-tech exchange-traded funds (ETF). Ishares’ blockchain-tech ETF aims at tracking the Intercontinental Exchange Index (ICE), also known as the Factset Global Blockchain Technologies Index.
Blackrock Files for a Blockchain ETF
Blackrock is launching an exchange-traded mutual fund (ETF), called the Ishares crypto tech ETF. The firm has $10 trillion assets under management as of January 2022. That’s according to a SEC filing submitted by Blackrock which says the fund will track the ICE index called the NYSE Factset Global Blockchain Technologies Index (NYFSBLC).
NYFSBLC was officially launched on December 31, 2021, according to documentation. Blackrock’s ETF filing investment objective says the “Ishares Blockchain and Tech ETF seeks to track the investment results of an index composed of U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies.”
Blackrock’s ETF Lead Salim Ramji Mentioned the Blockchain Fund Last Year
The Ishares ETF will include blockchain tech such as “cryptocurrency mining,” “cryptocurrency trading and exchanges,” and “crypto-mining systems.” The ETF filing follows the CEO of Blackrock, Larry Fink’s opinion about bitcoin (BTC) and how he envisions a “huge role for a digitized currency.” Meanwhile, Rick Rieder, Blackrock’s chief investment officer (CIO) said in September he thought bitcoin’s price could rise significantly.
Blackrock’s plans to introduce a blockchain tech ETF were first mentioned during the first week of December 2021. Salim Ramji, Blackrock’s exchange-traded fund and index investments lead revealed the ETF plans, according to businessinsider.com’s report written by Rebecca Ungarino.
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