World’s Biggest Asset Manager BlackRock Lists New Blockchain ETF

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Asset management behemoth BlackRock has launched its new iShares Blockchain and Tech (ILBC) exchange-traded fund (ETF). According to BlackRock, the new product seeks exposure to global companies at the forefront of blockchain and crypto technology development, innovation, and application.

Notably, the ETF will not invest in cryptocurrencies directly but rather into companies involved in the industry. Along with the launch of its ETF, BlackRock produced a paper emphasising what it sees as imminent "permanent" changes to market economies, including the proliferation of blockchain technology.

According to the report, “Digitisation has transformed nearly every facet of consumerism.”

BlackRock’s new ETF comes as Fidelity also races to introduce crypto-focused ETFs. Last week, Fidelity released ETFs for its Fidelity Crypto Industry and Digital Payments Index (FDIG), and its Fidelity Metaverse Index (FMET).

https://www.coinbureau.com/news/worlds-biggest-asset-manager-blackrock-lists-new-blockchain-etf/

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