BlackRock Introduces New ETF Targeting European Clients

Blackrock, the biggest asset manager in the world, has revealed the introduction of a fresh ETF.

With the new exchange-traded fund (ETF), European users will have access to the blockchain market. A metaverse-focused ETF may also be in the works, according to numerous sources.

The iShares Blockchain Technology UCITS ETF, a new Blackrock ETF, was introduced on September 27. Blackrock provided more information about the ETF, claiming that 75% of its assets were blockchain firms and exchanges and the other 25% were firms that supported the broader blockchain network. 

The fund has 50 holdings, comprising 35 international businesses. The holdings do not straightforwardly invest in the cryptocurrency sector but do involve fiat money and derivatives.

With the help of the upcoming Blackrock ETF, the asset manager’s European customers will have exposure to prominent crypto firms like Marathon Digital, Coinbase, and Galaxy Digital. Coinbase, USD Cash, Block, Marathon Digital Holdings, and Riot Blockchain are the fund’s top holdings with the following respective percentages: 13.20%, 13%, 11.40%, 11.13%, and 10.50%. 23 IT firms, one manufacturing company, one media company, and six finance enterprises are among the other interests.

Blackrock’s newest entry into the world of digital assets is the new ETF. On August 11th, Blackrock had already established a private Spot Bitcoin trust. It had additionally teamed up with Coinbase to provide cryptocurrency to institutional investors. Omar Mufti, a Blackrock  Product Strategist said the following about the company’s most recent foray into the digital asset sector: “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.”

It is quite evident that Blackrock thinks blockchain technology and cryptocurrencies have a bright future with the introduction of the new ETF.