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BlackRock, the world’s largest asset manager, has launched a new exchange-traded fund (ETF) providing European customers with access to investment in the blockchain space.
The new ETF, called the iShares Blockchain Technology UCITS ETF, launched on 27 September and invests in 35 blockchain firms.
BlackRock stated that three quarters of the ETF holdings come from blockchain companies such as exchanges and miners, while the remaining quarter is made up of companies that support the blockchain ecosystem.
Its launch marks the latest in a series of moves into the digital asset space for BlackRock, following the launch of a private spot Bitcoin trust in August.
BlackRock’s product strategist for ETFs, Omar Moufti, said in a September report from Finextra the ETF will “allow our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem.”
Moufti continued: “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 are Coinbase (13.20%), USD cash (13.00%), fintech firm Block (11.40%), crypto mining firms Marathon Digital Holdings (11.13%), and Riot Blockchain (10.50%).
Other holdings include 23 IT companies, six financial companies, one industrials company and one communications company, with 50 holdings in total.
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