Blackrock Launches Blockchain ETF Offering Investors Exposure to Crypto Sector

Blackrock Launches Blockchain ETF Offering Investors Exposure to Crypto Sector

The world’s largest asset manager, Blackrock, has launched a blockchain exchange-traded fund (ETF). The fund, trading on the NYSE Arca, gives investors exposure to “companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies.” Blackrock Debuts Blockchain ETF

Blackrock, the world’s largest asset manager with $10 trillion in assets under management, announced the launch of its Ishares Blockchain and Tech ETF (ticker: IBLC) Wednesday. The new exchange-traded fund (ETF) is trading on the NYSE Arca.

The asset manager explained: 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.

At the time of writing, the new blockchain ETF’s top holdings include Coinbase Global, Marathon Digital Holdings, Riot Blockchain, USD Cash, Galaxy Digital Holdings, International Business Machines, Hive Blockchain Technologies, Bitfarms, Paypal Holdings, Canaan, Nvidia, Advanced Micro Devices, Block Inc., Hut Mining, Argo Blockchain, and Cleanspark. Blackrock noted that its blockchain ETF does not invest directly in cryptocurrencies.

Rachel Aguirre, head of U.S. Ishares Product at Blackrock, commented: “The expansion of our megatrends line-up today reflects the power of the millennial and rise of the self-directed investor, whose buying habits have reshaped mainstream consumer behaviors, and in turn, the companies in which they invest.” She added: We believe the moment is now to embrace these forward-looking investment themes before the market recognizes their full potential.

The world’s largest asset manager has been looking into offering clients exposure to the crypto sector. “Blackrock is studying digital currencies, stablecoins, and the underlying technologies to understand how they can help us serve our clients,” CEO Larry Fink said in March.

Earlier this month, Blackrock and a few other companies, including Fidelity, participated in a $400 million funding round for crypto firm Circle Internet Financial, the issuer of the stablecoin USDC.

“In addition to its corporate strategic investment and role as a primary asset manager of USDC cash reserves, Blackrock has entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC,” the crypto firm noted. Tags in this story Bitcoin, Blackrock, blackrock blockchain etf, blackrock crypto, blackrock crypto investments, blockchain ETF, blockchain exchange-traded fund, Crypto, Cryptocurrency

What do you think about Blackrock launching a blockchain ETF? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. While Global Markets Get Spooked by Covid and a Hawkish Fed, Stocks and Crypto Rebound After Musk Buys Twitter FINANCE | 3 days ago Bank of Russia to Pilot Digital Ruble Settlements in 2023 FINANCE | 4 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleFuzzle NFT Game is Landing on Planet Earth Next articleBiggest Movers: STEPN GMT Remains Close to Record Highs, as GRT and CAKE Trade Higher Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto