ETF News

BlackRock Rolls Out Blockchain ETF Amid Bullish Stance on Industry

0
Bear market business concept with a group of organized arrows going down as investor doubt and lack of confidence in stock trading predicting future price decreases as a financial symbol of loss of wealth.

Global asset manager BlackRock has officially rolled out an exchange-traded fund focused on the blockchain industry, according to a report on Cointelegraph.

Dubbed the Blockchain and Tech ETF (IBLC), the newest offering is part of the iShares product line providing exposure to cryptocurrencies and blockchain without directly owning them.

The ETF tracks 41 international firms involved in the industry, with the largest share going to cryptocurrency exchange Coinbase with 11.45% of the fund, followed by Bitcoin miner Marathon Digital holdings with 11.19%, and Riot Blockchain Inc. with 10.41%.

BlackRock also published a report indicating its bullish stance on cryptocurrencies, noting that the actual value of blockchain has not yet been priced in. It also noted that 87 countries are now looking into establishing central bank digital currencies (CBDCs).

The latest fund currently has a USD cash position of 9.15%. IBLC closed down 2.767%, while COIN is up 1.51%, MARA up 1.97%, and RIOT up 2.00% premarket.

Zeus Review: Is It a Reliable System?

Previous article

Euro Hedge: Is It a Good Investment Decision In 2022?

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in ETF News