Global asset manager BlackRock seems determined not to stay on the sidelines of the crypto-powered financial market revolution. In early August, it announced a partnership with Coinbase to enable its institutional clients to transact online. bitcoin (BTC). Next, he launched a private trust through which US institutional clients will be able to invest in BTC. This, without intermediary. Now, the largest asset management company announces the launch of an ETF in Europe. Decryption.
An investment fund for BlackRock’s European clients
BlackRock get even more involved in crypto by launching an ETF in Europe. This new product should offer its European institutional clients the same advantages as those offered by the ETF launched in America. That said, the asset manager is preparing to launch iShares Blockchain Technology UCITS ETF. This ETF will track the New York Stock Exchange’s FactSet Global Blockchain Technologies Capped Index. The index is linked to 35 companies around the world. It is listed on Euronext under the ticker BLKC.
The iShares Blockchain Technology UCITS ETF is going to provide exposure to blockchain companies and crypto businesses. The index is expected to have 75% exposure to companies primarily operating in a blockchain-related field. This, including crypto miners and exchanges. The index is 25% exposed to companies that support the blockchain ecosystem.
Omar Moufti, product strategist for AND F themes and sectors at BlackRock reacted to the launch of the ETF aimed at European clients. “We believe that digital assets and blockchain technologies will become increasingly relevant to our customers as use cases grow in scope, scale and complexity. The continued proliferation of blockchain technology underscores its potential in many industries,” he said.
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