BlackRock has officially launched a blockchain-focused ETF, offering investors exposure to the crypto and blockchain industries without owning digital assets directly.
The world's largest asset manager, which now manages about $10 trillion in assets, added a blockchain and technology ETF (IBLC) to its iShares lineup on Wednesday.
The $4.7 million ETF does not directly own cryptocurrencies or digital assets itself, but instead tracks a range of international companies involved in the industry.
The ETF is made up of 41 separate assets, with the largest single asset being U.S. cryptocurrency exchange Coinbase, which accounts for 11.45% of the fund. It is followed by large bitcoin miner Marathon Digital Holdings (11.19%) and Riot Blockchain Inc. with 10.41% of total assets.
This ETF currently has a 9.15% dollar cash position, which shows that the fund is well positioned for future acquisitions.
In addition to launching the new ETF, BlackRock released a report outlining three major market sectors that are now undergoing permanent change.
The report details how optimistic BlackRock is about the crypto industry, noting that while much of the focus on digital assets has been on price and volatility, the real value of blockchain has yet to be fully realized.
"We believe the broader opportunity - the widespread use of blockchain technology for payments, contracts and consumption - has not yet been priced in."
The report also focuses on the adoption of central bank digital currencies (CBDC), noting that 87 countries are currently exploring the technology.
Crypto ETFs are gaining popularity among institutional investors as a way to gain exposure to the cryptocurrency industry.
In a recent Nasdaq survey, out of 500 financial advisors interviewed, 72% of clients were more likely to invest client money in spot funds than futures-based funds, reigniting concerns about spot Discussion of Bitcoin ETF.
Huang Bo
