Asset Manager Blackrock Submits Application for Blockchain Tech ETF
Blackrock, a New York-based international investment management firm, has applied to the Securities and Exchange Commission (SEC) for approval of a blockchain technology exchange-traded fund (ETF).
The Ishares blockchain technology ETF seeks to replicate the performance of the Intercontinental Exchange’s (ICE) Factset Global Blockchain Technologies Index. Blackrock, an investment corporation with $10 trillion in assets under management (AUM) as of January 2022, plans to launch the Ishares blockchain technology exchange-traded fund (ETF).
That is according to a filing with the Securities and Exchange Commission (SEC) by Blackrock, which states that the fund would follow the ICE index known as the NYSE Factset Global Blockchain Technologies Index (NYFSBLC). The NYFSBLC was established on December 31, 2021, according to papers.
According to Blackrock’s ETF registration, the “Ishares Blockchain and Technology ETF aspires to replicate the investment outcomes of an index comprising of domestic and international firms engaged in the creation, innovation, and application of blockchain and crypto technology.” The Ishares ETF will track blockchain technology, including “cryptocurrency mining,” “cryptocurrency trading and exchanges,” and “crypto-mining systems.”
The ETF application follows Blackrock CEO Larry Fink’s comments on bitcoin (BTC) and his vision for a “major role for a digital currency.” Meanwhile, Blackrock’s chief investment officer (CIO), Rick Rieder, said in September that he believed bitcoin’s price might increase dramatically.
Blackrock’s plans to launch a blockchain technology exchange-traded fund were first announced in the first week of December 2021. According to a post made by Rebecca Ungarino for businessinsider.com, Salim Ramji, Blackrock’s exchange-traded fund and index investments head, disclosed the ETF ambitions.