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China Securities Regulatory Commission, the financial watchdog of the country has recently received an application for listing the first-ever exchange-traded fund (ETF) that will track all blockchain-based stocks as underlying assets as we are reading further in the blockchain news.

Penghu Shenzhen Stocks Blockchain ETF is the name of the application which was filed by Shenzhen-based asset management firm Penghua Fund which was initially accepted by the China Securities Regulatory Commission on December 24 according to to the disclosure of the regulator. The proposed ETF aims to track and reflect the performance of the Shenzhen-listed public stocks that have businesses in the blockchain industry. According to a report from the Shanghai Securities News on Thursday, the application’s final approval will be by the CSRC and if approved it will be the first completely blockchain-themed ETF that will be open to public investors.

The application was received at the time when the Shenzhen Stock Exchange rolled out during a Blockchain 50 Index comprised of 50 stocks that were listed on the exchange that has already entered the blockchain space. The Shenzhen exchange said in an announcement on December 24, that the index tracks are those that are involved in different aspects of the entire blockchain ecosystem and selects the top 50 by market cap. The current index list clearly shows software companies and banks such as Ping An Bank along with internet companies that got involved in crypto mining such as Wholeasy which invested more than $80 million in bitcoin miners two years ago.

This proposed ETF is set to track and reflect the performance of Shenzhen-listed public stocks that have businesses in the blockchain industry. Based on reports from Shanghai Securities News on Thursday this week, the application is awaiting final approval by the CSRC. If this occurs, it would be the country’s first completely blockchain-themed ETF which is open to public investors. On the other hand, China continues with its stance and recently asserted that it will continue to “monitor the virtual currency business activities within the jurisdiction,” which will be “disposed of immediately” if discovered soon. China continues its ban on cryptocurrencies and recently renewed its anti-crypto stance according to several reports from media outlets including The Block.