“The exposure provided by the iShares Blockchain Technology UCITS ETF will give our clients the opportunity to work with global companies leading the development of the emerging blockchain ecosystem.”
BlackRock Launches iShares Blockchain Technology UCITS ETF [BLKC]an exchange-traded fund (ETF) that will track the NYSE® FactSet® Global Blockchain Technology Cap Index.
BLKC gives European clients access to a wide range of companies involved in the development, innovation and utilization of blockchain and crypto technologies.
The fund is listed on Euronext with a total expense ratio (TER) of 0.50%.
75% contact crypto companies, 25% contact payment/semiconductor companies
Blockchain ETFs include 35 global companies from developed and emerging markets, with 75% of their exposure to companies whose primary business is blockchain-related (such as crypto miners and exchanges), as well as supporting blockchain ecosystems of companies (such as payments and semiconductors) are exposed to 25% of companies. Exposure is at the forefront of innovation, paving the way for the future of blockchain. BLKC does not invest directly in cryptocurrencies.
As the ecosystem continues to expand, BlackRock is meeting the growing demand for investment strategies in the digital asset space, has spawned a decentralized payment system, a $1 trillion notional market cap for cryptocurrencies and digital assets, and increased Countless possibilities for efficiency. capital market.
The trading volume and market depth of digital assets increased fivefold year-over-year, from an average daily volume of $10 billion on December 31, 2017, to $53 billion on August 31, 2022.
Omar Moufti, Product Strategist, Thematic and Sector ETFs at BlackRock, commented: “We believe that as use cases evolve in scope, scale and complexity, digital assets and blockchain technology will become increasingly relevant to our clients. Related. The continued proliferation of blockchain technology highlights its potential across many industries. The exposure provided by the iShares Blockchain Technology UCITS ETF will give our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem .”
BlackRock is increasingly associated with cryptocurrencies
BlackRock recently launched a Spot Bitcoin Private Trust for institutional investors in the United States. The news comes just a week after BlackRock signed a partnership with the prime brokerage arm of popular U.S. exchange Coinbase. However, the partnership is limited to Bitcoin and will allow BlackRock’s institutional clients to access crypto trading, custody, prime brokerage and reporting through Coinbase Prime. Customers can also use BlackRock’s software suite, Aladdin, to manage their bitcoins and conduct risk analysis.
Back in April, BlackRock participated in a $400 million funding round for Boston-based fintech startup Circle. In addition to investing and serving as the primary asset manager for USDC’s cash reserves, BlackRock has partnered with Circle to explore capital markets applications for its stablecoin.
BlackRock made headlines last year when it added bitcoin futures to the derivatives that two of its funds can invest in. The development comes shortly after BlackRock CEO Larry Fink offered a somewhat bullish take on the world’s first cryptocurrency. In a relatively rare endorsement, Fink said Bitcoin has “gave attention” and could largely replace gold, but warned that its growing popularity has real implications for the U.S. dollar.
At the time, Fink, who had grown BlackRock into the world’s largest money manager, saw bitcoin as nothing more than a tool for speculation and money laundering.