BlackRock Adds Blockchain ETF Tracking Global Sector Firms 

BlackRock Adds Blockchain ETF

Multinational investment firm BlackRock has launched a blockchain ETF that gives clients exposure to crypto and blockchain without direct ownership of the digital assets.

The $4.7 million Blockchain and Tech ETF, which the company added to iShares product line, will track a suite of blockchain firms with no crypto or digital assets.

The ETF consists of 41 different holdings, with the cryptocurrency exchange Coinbase being the largest single holding with 11.45%.

Marathon Digital holdings is the other listed firm, taking 11.9%, while Riot Blockchain accounts for 10.41% in the fund.

The announcement was made alongside a BlackRock’s published report outlining the sectors that are seeing a major revolution, including the cryptocurrency space. The report adds that blockchain technology is yet to be fully exploited.

The paper also underscored the importance of adopting a central bank digital currency, which is currently being assessed by 87 countries globally.

The news comes amid a renewed push for a spot Bitcoin ETF after a recent report by Nasdaq showed that 72% of the financial advisors are willing to invest their clients’ funds in the fund.

Source: Cointelegraph

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