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BlackRock launches its blockchain-focused ETF

The world's largest asset manager has launched a blockchain ETF. At the same time, the company is very bullish for the future.

Cryptocurrencies and blockchain technology are slowly becoming something that more and more investors are becoming interested in some form. In other positive news for cryptocurrencies, the world’s largest asset manager, BlackRock, has come out with another positive announcement. The company manages approximately $10 trillion in assets and is now launching its official ETF focused on Blockchain-related companies and projects called the Blockchain and Tech iShares ETF (IBLC)

What does the new ETF contain?

The ETF contains U.S. and international companies involved in blockchain and cryptographic technologies. Currently, the fund has over $4.7 million in net assets across 34 holdings.

Some of the most well-known companies there include crypto exchange Coinbase or large-scale miners Marathon Digital Holdings and Riot Blockchain Inc, which each account for more than 10% of the portfolio. Other top holdings include Galaxy Digital, IBM, Hive Blockchain Technologies, Bitfarms, and PayPal.

View of a Blockchain title with 0 and 1 data flying over

Read also: Fidelity is heading into the metaverse

Blackrock sees a future in Blockchain

BlackRock released a report outlining its view of the future. It has outlined 3 areas of the market that will significantly influence global attitudes and events in the future. In the document, BlackRock is a proponent of blockchain technology and sees huge potential in it.

Following its words on the blockchain, the company also cites the large country focus on the development of CBNCs, which are digital currencies of central banks.

“Currently, 87 countries, representing 90% of world GDP, are exploring CBDCs, which could drastically reduce marketplace frictions, democratize access to financial markets, and optimize monetary policies.” 

Blackrock, as the world’s largest asset manager, seems to be clear on these points. No one can see the future, of course, but if even this company is bullish enough about these new assets, it’s worth getting interested in.

Bruno is an Investment enthusiast with several years of experience in the industry. He enjoys following the latest news and technology trends...


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