While Bitcoin Exchange Traded Funds (ETFs) continue to be a controversial topic, blockchain ETFs are all the rage! The latest Blockchain ETF is all set to get listed on to the prestigious London Stock Exchange. This Blockchain ETF is being listed by Invesco, a popular Investment Management Company.
Invesco is collaborating with Elwood Asset Management, a London-based asset management firm, which specializes in managing digital assets. Together, the two companies have introduced their blockchain ETF on the London Stock Exchange. The product launched by the duo is called ‘Invesco Elwood Global Blockchain UCITS ETF’.
The listing of their ETF was confirmed by Elwood earlier today when the firm commented that the ETF that they have created aims at blockchain firms which have the potential to earn real money by harnessing blockchain tech. Chris Mellor, who is Invesco’s head of EMEA (Europe, Middle East and Africa) region for ETFs, commented that:
“The potential for blockchain to drive real earnings is huge, but it is often hidden within companies involved in other areas. This ETF offers investors access to companies with real earnings now, but with the added potential of blockchain-related earnings not reflected in their share prices.”
It is worth noting that this is a Blockchain Exchange Traded Fund and not a Bitcoin Exchange Traded Fund. Bitcoin ETFs are either being turned down by the US Securities and Exchange Commission (SEC) or are being held for scrutiny for prolonged periods. Major names such as the Winklevoss twins as well as the likes of VanEck and Solidx are rallying for getting Bitcoin ETFs approved.
Specifics of this Blockchain-ETF
Getting to the specifics of this newly listed Exchange Traded Fund, it features a portfolio of 48 companies at the moment. Some of the biggest names on this list include the likes of Samsung Electronics, the Kakao Corporation, Taiwan Semiconductor Manufacturing Company (TSMC), Rakuten Inc, Mitsubishi UFJ Financial Group, SBI Holdings, GMO Internet, Nvidia, Oracle, Nasdaq, Monex Group, Amazon, CME Group, CBOE Global Markets Inc, Microsoft, Intercontinental Exchange, Verizon, Intel and Qualcomm among others.
Basically, all the who’s who of the tech-world who are using blockchain in some form are there! Some key statistical highlights of this ETF are: 46% of the total firms are in the IT sector. 23% are from the world of finance. 39% of these firms are from the US and 29% from Japan.
Traders have also been notified that this Blockchain ETF will charge an annual management fee of 0.65% and will be physically investing in the index constituents. Stay tuned with us at Cryptoground for all the latest updates and news stories from the world of cryptocurrencies and the blockchain technology!