World’s Largest Asset Manager Blackrock Files for Blockchain Tech ETF – Blockchain Bitcoin News
The New York-based multinational investment management corporation Blackrock has filed an application with the Securities and Exchange Commission (SEC) for a blockchain tech exchange-traded fund (ETF). The Ishares blockchain tech ETF aims to track the Intercontinental Exchange (ICE) index called the Factset Global Blockchain Technologies Index.
Blackrock Files to Launch a Blockchain ETF
The investment firm with $10 trillion in assets under management (AUM) as of January 2022, Blackrock, hopes to launch an exchange-traded fund (ETF) called the Ishares blockchain tech ETF. That’s according to a SEC filing submitted by Blackrock which says the fund will track the ICE index called the NYSE Factset Global Blockchain Technologies Index (NYFSBLC).
According to documents, NYFSBLC was initiated on December 31, 2021. Blackrock’s ETF filing investment objective says the “Ishares Blockchain and Tech 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’s ETF Lead Salim Ramji Mentioned the Blockchain Fund Last Year
The Ishares ETF will include blockchain tech such as “cryptocurrency mining,” “cryptocurrency trading and exchanges,” and “crypto-mining systems.” The ETF filing follows the CEO of Blackrock, Larry Fink’s opinion about bitcoin (BTC) and how he envisions a “huge role for a digitized currency.” Meanwhile, Rick Rieder, Blackrock’s chief investment officer (CIO) said in September he thought bitcoin’s price could rise significantly.
Blackrock’s plans to introduce a blockchain tech ETF were first mentioned during the first week of December 2021. Salim Ramji, Blackrock’s exchange-traded fund and index investments lead revealed the ETF plans, according to businessinsider.com’s report written by Rebecca Ungarino.
What do you think about Blackrock’s blockchain tech ETF filing with the SEC? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.