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Largest Asset Management Firm BlackRock Launches Crypto Backed ETF in Europe

BlackRock has launched the iShares Blockchain Technology UCITS Exchange Traded Fund. BlackRock, the world's largest asset manager, has been more involved in crypto....
blackrock launch european crypto backed ETF
Image by The Daily Encrypt / BlackRock

BlackRock has launched the iShares Blockchain Technology UCITS Exchange Traded Fund. BlackRock, the world’s largest asset manager, has been more involved in crypto. Recently, they announced the launch a private trust that offers direct exposure to bitcoin.

BlackRock has made a new move in crypto. This time, it launched an ETF that provides exposure to crypto companies and blockchain for European customers.

According to a release, the iShares Blockchain Technology UCITS UCITS ETF was created to track the New York Stock Exchange FactSet Global Blockchain Technologies capped Index. The index is comprised of 35 companies from all over the globe and is listed on Euronext under ticker BLKC.

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The index is exposed to 75% of companies whose primary business is related to blockchain, including exchanges and crypto miners. 

The index also has 25% exposure for companies that support the blockchain ecosystem — whether they are payments or semiconductor companies.

As use cases expand in scale, complexity and scope, we believe that digital assets and blockchain technology will become more relevant to our clients. “The continued growth of blockchain technology underscores it potential across many industries,” Omar Moufti (product strategist for thematic ETFs and sector ETFs) at BlackRock said.

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He concluded that the exposure will allow BlackRock clients to interact with global companies involved in the development of the Blockchain ecosystem.

The investment manager also launched an institutional trust that gives US-based clients spot bitcoin exposure in August. also tapped Kraken’s CF Benchmarks to support its pricing product.

Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".
Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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