Blockchain ETF Launches On London Stock Exchange Today | ETHNews Briefs
Investment firm Invesco launches ETF on the London Stock Exchange, which takes into account the performance of 48 leading companies making real profits from blockchain technology.
New exchange-traded fund was named Invesco Elwood Global Blockchain ETF and will track indices of such giants as Samsung Eltctronics, Apple, Intel, CME Group, Overstock, SoftBank, SBI, Microsoft, Nvidia and others similar companies. To launch a blockchain ETF, Invesco partnered with London-based investment firm Elwood Asset Management, which provided a global stock index.
The annual portfolio management fee will be 0.65%. The distribution by sectors of the economy is as follows: information technology – 46%, finance – 23%, communications – 9%, production of raw materials and consumer goods – 8%.
According to the head of Elwood, Bean Ren, today the potential of blockchain influence on the global economy and profit making is underestimated, just like the Internet. immediately after its appearance. therefore it was decided to offer investors an ETF that not only will provide access to companies with real earnings, but also blockchain-related prospects reflected in the value of their shares.
Despite progress British, Swiss colleagues continue to lead in this direction. Recently SIX, the largest Swiss stock exchange, has added Ethereum-based exchange products to the platform’s trading instruments.
text: Ivan Malichenko, photo: Shutterstock, pressassociation