World’s Largest Asset Manager, BlackRock, Launches ETF Offering a ‘Gradual Entry Point’ into Blockchain

BlackRock, the world’s largest asset manager, has announced the launch of its new iShares Blockchain and Tech ETF. The fund provides clients with exposure to crypto and blockchain-related companies.

BlackRock Launches Blockchain Fund

On Wednesday, BlackRock announced its new iShares Blockchain and Tech ETF (IBLC). The fund allows investors to gain exposure to the blockchain sector without direct investments in cryptocurrencies.

The fund tracks U.S.-based and international firms involved in the “development, innovation, and utilization of blockchain and crypto technologies.” These include crypto exchanges, crypto miners, and firms using the underlying technologies.

According to BlackRock, the blockchain ETF is a “gradual entry point into the blockchain ecosystem.” The fund currently has over $4.7 million in net assets across 41 different holdings. 

Coinbase makes up the largest single holding with 11.45%, while Marathon Digital Holdings makes up 11.19%, and Riot Blockchain Inc. accounts for 10.41% of the total holdings.

BlackRock Has High Hopes for Crypto

At a Wednesday panel event, Rachel Aguirre, BlackRock’s head of the US iShares product, said that “the entire ecosystem around the blockchain has seen rapid growth these past two years.”

Aguirre explains that now is the time for investors to capture their stake in the industry, because “what we see is going to be exponential growth from here.”

On The Flipside

Why You Should Care

BlackRock adds that millennials are discovering the intrinsic value of blockchain, creating greater financial inclusion in ways previously impossible.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia