BlackRock Launches New Crypto ETF to Attract European Investors

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Leading global asset management company BlackRock announced today the launch of its blockchain exchange-traded fund (ETF) called iShares Blockchain Technology UCITS ETF (BLKC) to attract European customers, Finextra reported Thursday. 

BlackRock Offers European Clients Crypto Exposure 

According to the report, the new Fund is listed on the European stock exchange Euronext with an expense ratio (TER) of 0.50%. BLKC is designed to track the NYSE FactSet Global Blockchain Technologies family, which encompasses 35 global companies from developed and emerging markets. 

Although BLKC does not directly support crypto investments, the Fund offers European customers 75% exposure to enterprises providing blockchain solutions such as miners and exchanges. 

The new product also seeks to enable consumers in the designated region to gain 25% exposure to companies providing crypto services, such as payment facilitators and semiconductors.

Omar Moufti, product strategist for thematic and sector ETFs at BlackRock, said the asset manager believes virtual currencies and blockchain technologies will become increasingly relevant to its customers because of different use cases, scopes, and complexity. 

“The continued proliferation of blockchain technology underscores its potential across many industries. The exposure offered by the iShares Blockchain Technology UCITS ETF will allow our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem,” Moufti said. 

BlackRock Launches Private Bitcoin ETF

BlackRock’s interest in crypto started years ago after organizing a committee to investigate crypto and the blockchain in 2018. Earlier this year, the firm, which has $10 trillion in assets under management, filed with the U.S. Securities and Exchange Commission to offer blockchain ETFs. 

In February, Coinfomania reported that the company plans to provide direct crypto exposure to its customers through its institutional investment platform Aladdin. 

Later in August, the firm launched a private Bitcoin (BTC) spot ETF to offer its American-based institutional customers access to buy and sell the cryptocurrency through Aladdin. 

That same month, the asset manager partnered with crypto exchange Coinbase to give its clients direct access to digital assets starting with bitcoin. 

The collaboration seeks to offer its Aladdin customers the ability to receive crypto trading, custody, prime brokerage, and reporting capabilities upon signing up for Coinbase Prime.

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