BlackRock launches crypto ETF in Europe

    01 Oct 2022
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    BlackRock launched the iShares Blockchain Technology UCITS ETF, as the world’s largest asset manager has been increasingly engaging in the crypto sector.

    The world’s largest asset manager BlackRock just made another step into the crypto sector, this time launching an ETF with exposure to blockchain and crypto companies for its European customers. 

    According to a release, The iShares Blockchain Technology UCITS ETF is designed to track the New York Stock Exchange FactSet Global Blockchain Technologies capped index. The index includes 35 companies from around the world and is listed on the Euronext under the ticker BLKC.

    The index has 75% exposure to companies with primary business related to blockchain, such as crypto miners and exchanges. It has a further 25% exposure to companies supporting the blockchain ecosystem, including payments and semiconductor companies.

    Omar Moufti, product strategist for thematic and sector ETFs at BlackRock, said:

    “We believe digital assets and blockchain technologies are going to become increasingly relevant for our clients as use cases develop in scope, scale, and complexity. The continued proliferation of blockchain technology underscores its potential across many industries.”

    As per Moufti, that exposure will allow BlackRock clients to engage with global companies leading the development of the blockchain ecosystem.

    Recently, BlackRock has launched a private trust that will hold Bitcoin and seek to track the asset’s performance, with Coinbase serving as the trust’s custodian – the move marked a giant leap forward in Bitcoin’s institutional adoption.

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