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BlackRock Launches Blockchain ETFs

Investment company BlackRock has launched the iShares Blockchain Technology UCITS ETF (BLKC), an exchange-traded fund that will track stocks of companies working in the field of blockchain and cryptocurrencies.

The BLKC index includes 35 international companies from developed and developing countries. The main activity of 75% of the participants is related to the trading of crypto assets and mining, and 25% are payment and intermediary companies using blockchain technology. BlackRock management says the new exchange-traded fund (ETF) will be available to European clients and will not invest directly in cryptocurrencies.

“We believe that as innovation develops, digital assets and blockchain will become increasingly relevant to our clients. The gradual adoption of the technology suggests that the potential of the blockchain can be used in many industries. The iShares Blockchain Technology UCITS Foundation will give our clients the opportunity to interact with international companies that are creating new ecosystems based on blockchain or implementing it in their work,” explained BlackRock Industry Product Development Manager Omar Moufti.

Earlier, BlackRock CEO Larry Fink said that the company is conducting extensive research into the cryptocurrency industry, exploring the possibilities of stablecoins and asset tokenization. At the beginning of the year, information appeared in the media that BlackRock even plans to provide its customers with a service for providing loans secured by digital assets and for trading cryptocurrencies.

Recall that in August, BlackRock launched its first Bitcoin-pegged spot ETF for US institutional clients.

Source: Bits

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