BlackRock launches blockchain ETF for European clients

The iShares Blockchain Technology UCITS ETF with a total expense ratio of 0,5% has 35 assets and is listed on Euronext

29.09.2022 - 13:55

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2 min

What’s new? BlackRock, an investment firm with $10 trillion in assets under management, has launched a blockchain exchange-traded fund called the iShares Blockchain Technology UCITS ETF. It is available to European clients. Omar Moufti, product strategist for thematic and sector ETFs at BlackRock, said that digital assets and blockchain technology will become increasingly relevant to the company's clients as it expands its applications. This is reported by the Financial News.

Financial News article

What else does the publication report? BlackRock's European blockchain ETF with a total expense ratio of 0,5% has 35 assets and is listed on the Euronext stock exchange. It includes cryptocurrency exchange Coinbase, investment firm Galaxy Digital and mining firm Marathon Digital, among others. The fund also includes PayPal, NVIDIA and IBM.

Moufti said the continued spread of blockchain technology underscores its potential in many industries. The iShares Blockchain Technology UCITS ETF will give clients the opportunity to participate in global companies leading the development of the nascent distributed ledger ecosystem, he added.

What is known about BlackRock? It is one of the world's largest asset management and investment companies. The company's shares are traded on the New York Stock Exchange (NYSE) under the ticker BLK. As of September 29, 12:40 UTC, the share price is $585,43, up 1,18% overnight.

On August 4, BlackRock announced a partnership with Coinbase. As part of the partnership, BlackRock's institutional investors who use its Aladdin platform will have direct access to digital assets. That same month, BlackRock launched a private spot trust offering US institutional clients investments in bitcoin. The company noted significant customer interest in using BTC-based investment products, despite the sharp downturn in the digital asset market.

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