BlackRock Applies To Enter Crypto ETF Space Through A Blockchain Fund

The world’s largest asset manager, New York-based BlackRock has applied for ETF with the focus on blockchain technology. 

According to an SEC filing, BlackRock’s iShares Trust has filed to establish a new “blockchain and tech ETF” that will track the performance of an index that follows companies working in blockchain space.

The filing notes that the ETF will track the NYSE FactSet Global Blockchain Technologies Index.

According to the iShares filing, component companies will include “(a) cryptocurrency mining, (b) cryptocurrency trading and exchanges, or (c) crypto-mining systems.”

While the filing doesn’t reveal what exact companies would be included, the above statement likely means that firms like crypto exchange Coinbase and an array of publicly traded miners would be included.

“The Underlying Index is composed of (i) blockchain technology companies, (ii) cryptocurrency mining, (iii) cryptocurrency trading and exchanges, (iv) crypto-mining systems, and (v) video multimedia semiconductors,” the filing states.

BlackRock’s filing is a notable one from the investment giant. The firm indicated late last year that it would move to introduce a blockchain-related ETF.

Last February the firm entered crypto space. Blackrock chief investment officer, Rick Rieder, at the time said:

“My sense is the technology has evolved and the regulation has evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up.”