Blackrock Asset Manager Filed For A Blockchain Tech ETF

The New York based Blackrock asset manager filed for a blockchain tech ETF with the Securities and Exchange Commission. The ETF aims to track the Intercontinental Exchange index called the Factest Global Blockchain Technologies index so let’s find out more about it in our latest cryptocurrency news.

The investment firm with $10 million in assets under management, Blackrock Asset manager filed an ETF and hopes to launch an exchange-traded fund called the Ishares blockchain tech ETF. This is according to the SEC filing submitted by Blackrock which says that the fund will track the ICE index called the NYSE Factest Global Blockchain Technologies Index. According to the documents, NYFSBLC was initiated on December 31, 2021, and the ETF filing investment objective said that the Ishares Blockchain and Tech ETF seeks to track the investment results of the index composed of US and non-US companies which are involved in the development and innovation and utilization of blockchain as well as crypto technologies.

The Ishares ETF will include blockchain techs like crypto mining, crypto trading and exchanges, mining systems, and more. The ETF filing follows the CEO of Blackrock Larry Fink’s opinion about BTC and how he sees a huge rule for a digitized currency. In the meantime, Rick Rieder, the Blockchain chief investment officer said that he thought Bitcoin’s price will rise dramatically in the following years. BlackRock’s plans to introduce a blockchain tech ETF were initially mentioned during the first week of December 2021. Salim Ramaji who is the exchange-traded fund and index investment lead revealed the ETF plans previously according to a Businessinsider.com report.

As recently reported, With nearly $9 trillion in assets under management, BlackRock is the world’s biggest investment company in the world ahead of UBS, Fidelity, Vanguard, JPMorgan Chase, BNY Mellon. Fidelity also filed paperwork for a Bitcoin ETF while BNY Mellon commented that it will add BTC custody services and JpMorgan Chase creating a crypto basket so all investors can purchase shares in companies that are exposed to BTC. BlackRock is not the latest domino in the game, in 2018, CEO Larry Fink believed that the company’s clients were not interested in crypto exposure.

The BlackRock CIO admitted that the company started “dabbling” in BTC but refused to detail the involved sums. Instead, he mentioned that there’s a confluence of chancing factors that triggered a slight change in the policies towards BTC including his own grasp on technology and the improving regulatory landscape.