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BlackRock launches crypto ETF, certifies massive growth potential for crypto market

 


Influential asset manager BlackRock has launched a blockchain index fund (ETF) that offers investors a way to invest in the crypto industry without having to invest directly in related cryptocurrencies.


Accordingly, the world's largest asset manager, which currently has assets worth almost 10 trillion. US dollars managed, the so-called Blockchain and Tech ETF (IBLC) was launched this week.


The $4.7 million ETF does not invest directly in cryptocurrencies or crypto investment products, but instead tracks various companies within the crypto industry.


The ETF is made up of 41 different securities, of which the American crypto exchange Coinbase accounts for the largest share at 11.45%. They are followed by the Bitcoin ( BTC ) mining companies Marathon Digital Holdings (11.19%) and Riot Blockchain (10.41%).


To still leave room for future investments in the crypto market, the ETF has a 9.15% cash component in US dollars.


In addition to the launch of the new ETF, BlackRock has also published a market research report in which the asset management company highlights the enormous potential of the crypto market.


The report makes it clear how positive the “ secret world power ” actually sees the crypto industry, with the authors pointing out that currently only crypto currencies, their price development and volatility are in the foreground, while the massive potential of the associated blockchain technology is still largely ignored:


"We believe that the broad potential of using blockchain technology in areas such as payments, contracting and consumption is not yet sufficiently priced in by the market."

Furthermore, the research report also goes into the progressing state of development of the central bank digital currencies (CBDCs), so 87 countries are already working on their own national digital currency.


Meanwhile, crypto ETFs are gaining popularity among institutional investors as an indirect way to invest in the crypto industry.


The discussion about a physical Bitcoin ETF in the US has also recently gained momentum, with 72% of 500 investment advisors saying that they would rather invest their investors' money in a "directly" Bitcoin-based ETF than in a Bitcoin-based ETF - Futures based ETF. The US Securities and Exchange Commission has so far only approved the latter.

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