According to BlackRock Inc., the “ETF seeks to track the investment results of an index composed of U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies.”
Blackrock, an investment corporation with $10 trillion in assets under management (AUM) as of January 2022, is planning to create the Ishares blockchain technology ETF. The fund will track the ICE index named the NYSE Factset Global Blockchain Technologies Index, according to an SEC filing filed by Blackrock (NYFSBLC).
The NYFSBLC was established on December 31, 2021, according to papers. The “Ishares Blockchain and Tech ETF aspire to track the investment performance of an index comprising of U.S. and non-U.S. companies involved in the creation, innovation, and application of blockchain and crypto technologies,” according to Blackrock’s ETF filing investment goal.
Blockchain technology such as “cryptocurrency mining,” “cryptocurrency trading and exchanges,” and “crypto-mining systems” will be included in the Ishares ETF. The ETF application follows Blackrock CEO Larry Fink’s comments on bitcoin (BTC) and how he sees it playing a “major role for a digitized currency.”
Meanwhile, Blackrock’s chief investment officer (CIO), Rick Rieder, predicted that bitcoin’s price will rise dramatically in September.
The first indication of Blackrock’s plans to launch a blockchain technology ETF was in the first week of December 2021. According to a post by Rebecca Ungarino on businessinsider.com, Salim Ramji, Blackrock’s exchange-traded fund and index investments lead, revealed the ETF ambitions.
