Asset management giant BlackRock is launching an exchange-traded fund (ETF) on blockchain technology in Europe.

BlackRock, the world’s largest investment manager, is offering its European clients the opportunity to invest in a new exchange-traded fund (ETF) on blockchain technology.

The firm’s launch of the iShares Blockchain Technology UCITS ETF is part of the company’s continued growth in cryptocurrency investing.

The index offers 75% exposure to companies whose primary business is related to blockchain technology and 25% to companies supporting the blockchain industry such as payment processing. The index, traded on the Euronext stock exchange under the ticker BLKC, holds stakes in 35 companies, including Coinbase Global, Block and Marathon Digital Holdings. Other holdings include cryptocurrency mining firms Hut Miner and Bitfarms.

Omar Moufti, BlackRock’s product strategist for thematic and sector ETFs, tells The Block that adoption of blockchain technology will only increase and clients will want to invest more in this sector.

“We believe that digital assets and blockchain technologies will become increasingly relevant to our customers as use cases grow in scope, scale and complexity. The continued proliferation of blockchain technology underscores its potential in many industries. »

Last month, the company, which oversees $10 trillion in assets, launched a private trust for high net worth clients that tracks the performance of bitcoin (BTC). And it has also partnered with Coinbase to allow its customers to buy bitcoin on its cryptocurrency exchange.

Featured Image: Shutterstock/Zaleman/Sensvector

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