- BlackRock debuts its new iShares Blockchain and Technology ETF on Wednesday (IBLC).
- The ETF provides an opportunity to capitalize on an emerging trend that BlackRock’s head of US iShares products expects to flourish.
- BlackRock has allotted over 11% of funds to Coinbase in iShares.
In reference to a tweet by crypto reporter Ben Strack – the world’s largest asset manager – BlackRock has listed its iShares exchange-traded fund (ETF) to allow investors to acquire exposure to the blockchain and cryptocurrency markets without directly investing in crypto.
The world’s largest asset manager has launched its blockchain ETF.
— Ben Strack 🟪 (@strack_ben) April 27, 2022
BlackRock is acclaimed to be the largest asset manager in the world, and it has kicked off by listing new iShares of major companies instead of dealing with cryptocurrencies. Notably, they have allotted 11.45% of funds to Coinbase, one of the United States’ largest cryptocurrency exchanges.
This ETF will target companies like exchanges all over the world. Other companies that will be tracked will include Bitcoin miners Marathon Digital Holdings (11.19%) and Riot (10.41%), as well as payments giant PayPal – which introduced crypto services in 2020.
BlackRock has stated on its iShares webpage,
Blockchain tech is allowing independence and control of personal data while enabling financial inclusion for billions of unbanked consumers
Blackrock’s Head of US iShares product Rache Aguirre shared that their expansion reflects the buying habits of the self-directed investor
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
The U.S. Securities and Exchange Commission (SEC) received an application for the iShares Blockchain and Tech ETF (IBLC), which “seeks to track the investment outcomes of an index comprising of U.S. and non-U.S. enterprises active in the creation, innovation, and exploitation of blockchain and crypto technology.”
In other news, Simplify, another asset manager, aims to list shares of an exchange-traded fund (ETF) allocated to Bitcoin, Treasury securities, and options. The asset manager has filed a registration statement with the United States Securities and Exchange Commission (SEC).
An Exchange-Traded Fund is a popular financial instrument that allows investors to purchase shares that represent a specific asset, such as real estate, foreign currencies, or even Bitcoin.