BlackRock has augmented its presence in the digital assets space by rolling out a blockchain technology exchange traded fund (ETF).
The iShares Blockchain Technology UCITS ETF will give clients in Europe access to blockchain and crypto companies.
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Listed on Euronext, it will help track the NYSE FactSet Global Blockchain Technologies Capped Index.
With a total expense ratio of 0.5%, the European blockchain ETF features as many as 35 firms.
The ETF will offer 75% exposure to companies dealing with blockchain including crypto miners and exchanges.
The remaining 25% of fund will be committed to blockchain ecosystem supporters such as payments and semiconductor firms.
Its key allocations reportedly are to crypto exchange Coinbase, Galaxy Digital and bitcoin miner Marathon Digital.
However, the ETF will not invest directly in cryptocurrencies, the company noted.
BlackRock product strategist for thematic and sector ETFs Omar Moufti said: “We believe digital assets and blockchain technologies are going to become increasingly relevant for our clients as use cases develop in scope, scale and complexity.
“The continued proliferation of blockchain technology underscores its potential across many industries.
“The exposure offered by the iShares Blockchain Technology UCITS ETF will allow our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem.”
According to BlackRock, trading volumes for digital assets has soared five times year-on-year. Earlier this year, American International Group brokered a deal with BlackRock to manage over $150bn of its fixed-income and private-placement assets.
