general

BlackRock launches an ETF dedicated to tracking shares of crypto and blockchain companies

BlackRock launches an ETF dedicated to tracking shares of crypto and blockchain companies

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer BlackRock launches an ETF dedicated to tracking shares of crypto and blockchain companies

Blackrock, a multinational investment management company, has launched a new ETF called iShares Blockchain.

The fund is a basket of shares that includes the shares of “Coinbase” specialized in trading cryptocurrency, the shares of the bitcoin mining company “Marathon Digital” and many other crypto and blockchain companies.

As of April 26, this new fund has net assets of $4,755,562, with a total of 34 shares of various companies.

BlackRock, which has $10 trillion in assets under management, entered the blockchain ETF world just days after its main competitor, Fidelity, listed two Bitcoin ETPs on the Swiss SIX exchange.

Crypto-focused funds launched by tycoons are often seen as a sign of increased adoption of digital assets.

Read:Do you think the bitcoin price is unstable? Take a look at sterling

In the wake of the launch of the blockchain ETF, the financial giant published paper It identifies three main areas to invest in:

The New Consumer, Industrial Renaissance, and Medical Research.

As the major trends that will drive innovation and growth.

Rachel Aguirre, head of products for the new “iShares” fund at the American company “BlackRock” told:

The ETF is a gradual entry point into the blockchain ecosystem, as the company pledges in the research paper that the decentralized digital ecosystem will grow a new generation of consumers.

BlackRock, which costs 47 basis points, has allocated about 11% of its portfolio to Coinbase and Marathon Digital.

Riot Blockchain, a major bitcoin miner in America, has acquired 10% of the fund.

While “Galaxy Digital” and “Hive Blockchain Technologies” are the other major names present in this fund.

The fund currently holds approximately 9% of its total assets in cash.

In August 2021, BlackRock invested more than $383 million in Marathon Digital and Riot Blockchain through its mutual funds and exchange-traded funds.

Read:Goldman Sachs applies to SEC for approval of a DeFi ETF

Two weeks ago, Larry Fink, CEO of BlackRock, revealed that his company was researching cryptocurrencies, stablecoins, and their underlying technologies.

Read also:

One of the major real estate companies in the UAE starts accepting cryptocurrency

After Elon Musk’s acquisition of Twitter … what is the fate of the decentralized project “BlueSky”?


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
Ripple CEO reveals Ripple’s next plan of action in case the company loses the lawsuit
Next post
One of the major real estate companies in the UAE starts accepting cryptocurrency