HomeCryptocurrencyBlackRock launches blockchain industry ETF services for clients

BlackRock launches blockchain industry ETF services for clients

BlackRock, the world’s largest asset management organization, has launched a blockchain industry ETF to give their clients more opportunities to profit from the booming blockchain and cryptocurrency industry.

BlackRock has officially launched an ETF focused on the blockchain industry, allowing customers to invest in the blockchain and cryptocurrency industries without having to hold cryptocurrencies and e-wallets.

BlackRock, which currently manages as much as $10 trillion in assets, is the world’s largest fund management organization. The new product, officially known as the Blockchain and Tech ETF (iBLC), will join their iShares product line, totaling approximately $4.7 million.

This ETF does not directly hold cryptocurrencies, but tracks investments in companies related to blockchain and cryptocurrencies around the world. There are currently 41 assets, the largest of which is the stock of Coinbase, an American cryptocurrency exchange , accounting for about 11.45% of the total.

It was followed by Bitcoin mining company Marathon Digital Holdings and Riot Blockchain, with 11.19% and 10.41% respectively.

At the same time as the issuance of the ETF, BlackRock also released a report on future investment targets, naming cryptocurrencies as one of the three major opportunities. “We believe that broader opportunities are emerging, and blockchain technology will be used in payments, contracts, and consumption. These potentials have yet to be realized.” BlackRock reports that as many as 87 countries are considering issuing digital fiat currencies, It will bring great growth space to the blockchain industry.

For institutional investors, more and more cryptocurrency ETFs allow them to explore the industry with a broader perspective, rather than simply buying and selling coins. The current unit price for BlackRock iBLC is $23.6.

Source: BlackRock

Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Best Deals Today

Follow us on Social Media!

12FansLike
15,848FollowersFollow
13FollowersFollow
656SubscribersSubscribe

Related Articles

Explore More Articles

China's Zhurong rover shows Evidence large flood on Mars-min

China’s Zhurong rover shows Evidence of a large flood on the surface of Mars

0
China's Zhurong rover has been wandering and exploring since it landed on Mars in May 2021, continuously collecting data through ground penetrating radar to...
Construction Simulator 2022 How to make money fast2-min

Construction Simulator 2022: How to make money fast?

0
Construction Simulator is a new simulation game that has just been released. Lots of players struggle to get started this fairly complex game and...
Samsung to add satellite communication capabilities to upcoming Galaxy S23-min

Samsung to add satellite communication capabilities to upcoming Galaxy S23

0
Huawei and Apple have previously released the Mate 50 series and the iPhone 14 series of smartphones. One of the highlights is that both...
Scientists shorten lifespan mosquitoes contagious with Malaria

Scientists shorten the lifespan of mosquitoes before they become contagious with Malaria

0
Malaria is mainly transmitted through mosquito bites, and current prevention methods are nothing more than killing insects or preventing mosquitoes from getting parasites.Malaria is...