The world's largest wealth manager, BlackRock, is planning a blockchain ETF. This would be the investment giant’s first “crypto fund.” Those are the main points.
The American securities regulator SEC accepted the application for a blockchain ETF from the investment house BlackRock this Friday.
The iShares Blockchain and Tech ETF aims to focus on companies related to the crypto economy, allowing investors to benefit from market growth in the industry.
It is by no means the first blockchain ETF. There are already several index funds from other investment companies that specialize in crypto companies, such as the ETFs from VanEck or Bitwise.
Unlike Bitcoin ETFs, which invest directly in the cryptocurrencies, public company ETFs do not face SEC rejection concerns. So expect BlackRock's blockchain ETF to be approved soon.
The signal effect emanating from this ETF is a strong sign, especially in times of greater market turbulence on the crypto markets.
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