BlackRock plans to enter cryptocurrency ETF space amid sector’s meltdown – The National
- Date: 22-Jan-2022
- Source: The National
- Sector:Financial Markets
- Country:Middle East
BlackRock plans to enter cryptocurrency ETF space amid sector’s meltdown – The National
US investment management company BlackRock is stepping into the arena of cryptocurrency-flavoured exchange-traded funds in the midst of a $1 trillion wipeout.
The iShares Blockchain and Tech ETF would invest in companies involved in the “development, innovation, and utilisation of blockchain and crypto technologies”, according to a filing with the US Securities and Exchange Commission. If launched, it would be the first crypto-adjacent fund in the largest ETF issuer’s line-up.
Salim Ramji, the head of BlackRock’s global ETF business, said on a December episode of Bloomberg’s Trillions podcast that a thematic blockchain fund was in the works.
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