New BlackRock ETF invest in 35 crypto-related companies
The asset management behemoth, BlackRock Inc, has rolled out a blockchain technology exchange-traded fund (ETF). The firm has extended its services to European consumers, giving traditional markets more exposure to investing in blockchain companies.
The latest BlackRock ETF has been named iShares Blockchain Technology UCITS ETF (BLKC). The product was introduced on September 27 and consists of 50 holdings. Among them, 35 companies are blockchain-related, while others firms aid the blockchain industry.
BlackRock ETF offering EU investors exposure to blockchain
Previously, the Blackrock introduced a similar ETF product in the US. Now, it is seeking expansion in European market.
The firm's product strategist for thematic and sector ETFs, Omar Moufti, has said that the new offering will allow customers to interact with leading companies in the distributed ledger ecosystem.
Moufti further pointed out that these technologies will "become increasingly relevant for our clients as use cases develop in scope, scale and complexity."
Blockchain BlackRock ETF holdings
There are 50 holdings, including around 75% of crypto exchanges and mining firms. On the other hand, firms supporting the blockchains make up the remaining 25%. Moreover, this new BlackRock ETF does not deal in crypto investments directly.
The top five holdings are Coinbase (13.20%), the fintech firm Block (11.40%), Riot (10.50%), Marathon Digital Holdings (11.13%) and USD cash (13.00%).
Other companies the new BlackRock ETF invests in include twenty-three IT firms, six financial, one communication, and one industrial company.
A Metaverse ETF is in the works
Bloomberg recently reported that BlackRock plans to introduce a unique exchange-traded fund related to Metaverse, which may include virtual or social media platforms. Its ticker and fees are yet to be confirmed.
Earlier in August, the world's largest asset manager made its way into the crypto space by offering its institutional clients Bitcoin spot exposure. Now, it is working on several other products related to digital assets to expand in the market.
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