BlackRock the world’s most powerful asset manager, just launched an ETF that trades on exchanges (ETF) that will provide European clients with access to the blockchain industry and reports suggest the possibility of a Metaverse-focused ETF coming soon.
The latest blockchain ETF was launched on September. 27 is known as”the iShares Blockchain Technology UUCITS ETF (BLKC).
BlackRock stated that 75percent of their assets are comprised of blockchain companies, such as exchanges and miners The remaining 25% comprise companies who support the blockchain ecosystem.
The fund consists of 35 global firms from a total of 50 holdings. The fund additionally includes cash in fiat as well as derivatives, however, it does not directly invest in cryptocurrency.
BLKC is the latest of an array of initiatives in the field of digital assets for BlackRock and the most recent one being the launch of an individual spot Bitcoin trust in August. 11.
In the Sept. 29 report by Finextra, the product analyst for thematic and sector ETFs of BlackRock, Omar Moufti, stated that it was a good idea to invest in the ETF can “allow our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem,” adding that
“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 top five holdings in the fund include Coinbase (13.20 percent) USD cash (13.00 percent) Fintech company Block (11.40 percent) and crypto mining companies Marathon Digital Holdings (11.13%) and Riot Blockchain (10.50%).
The other holdings comprise 23 IT-related businesses, six finance firms as well as one industrials company and one communications company with 50 total holdings in September. 28.
However there is a Bloomberg report published on September. 29 suggested that BlackRock might be working on an additional ETF that is specifically focused on the Metaverse known as The iShares Future Metaverse Tech and Communications ETF.
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The report noted that the fees of the fund and the ticker aren’t yet available however, they could be included in “firms that have products or services tied to virtual platforms, social media, gaming, digital assets, augmented reality and more.”
Metaverse ETF Metaverse ETF follows insights published on February. 14 by BlackRock Technology Opportunities Fund co-portfolio manager Reid Menge, who labeled the Metaverse as a “revolution in the making.”
“Metaverse” mentions in the company’s transcripts. The source: BlackRock Market Minute citing Morgan Stanley, 2021.
On August. 4, Coinbase revealed that the company had signed an alliance with BlackRock and is enjoying the benefits of the partnership through its substantial percentage of weighting in BLKC.
The partnership provides institutional investors the option to gain access to crypto through the Coinbase Prime service.
