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- BlackRock made another ETF investment in nearly 35 Blockchain related firms.
- Its new ETF will provide European customers exposure to the blockchain industry.
The ETF Product Strategist of BlackRock, Omar Moufti shared the information on September 29, 2022 and added that the ETF will “allow our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem.”
He further added “We believe digital assets and blockchain technologies are going to become increasingly relevant for our clients as use cases develop in scope, scale and complexity.”
iShares ETFs
The Global Investment Manager, BlackRock, has launched a new Exchange-Traded Fund (ETF) on September 27, 2022, i.e. named iShares Blockchain Technology UCITS ETF. The aim of this launch is to offer European customers with exposure to the blockchain industry. On the other hand the reports show a Metaverse-focused ETF in the near future.
The firm disclosed that around 75% of its holdings originated by blockchain companies such as miners and exchanges, while the rest of 25% are companies that support the blockchain ecosystem.
Additionally, the fund includes 35 global firms out of a total of 50 holdings. It includes fiat cash and derivatives, but does not directly invest in cryptocurrencies.
The privacy focused decentralized crypto, BlackHat, BLKC noted the recent of a series of moves into the digital assets space for BlackRock.
The Top Five Holdings in the fund:
1.Coinbase (13.20%)
2.USD cash (13.00%)
3.Fintech firm, Block (11.40%)
and crypto mining firms
4.Marathon Digital Holdings (11.13%)
5.Riot Blockchain (10.50%)
The other holdings include 23 IT firms along with six Financial Companies, A Industrials Company and A Communications Company with 50 holdings in total as of September 28, 2022.
Still, as per a report by Bloomberg published on September 29, 2022 hints that BlackRock may be working on another ETF — focused on the Metaverse, called the iShares Future Metaverse Tech and Communications ETF.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
