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.