BlackRock's latest ETF invests in 35 blockchain-related companies

"We believe that digital assets and blockchain technologies will become increasingly relevant to our clients," said Omar Moufti, Strategist BlackRock ETF product. New

BlackRock, the world's largest asset manager, has just launched a new exchange-traded fund (ETF) to offer European clients exposure to the blockchain industry, while reports indicate that a Metaverse-focused ETF could be on the way.

The new blockchain ETF launched on September 27 is called iShares Blockchain Technology UCITS ETF.

BlackRock said that 75% of its holdings are made up of blockchain companies such as miners and exchanges, while the remaining 25% are companies that support the blockchain ecosystem.

The fund includes 35 global companies out of a total of 50 holdings, which also includes fiat cash and derivatives, but does not invest directly in cryptocurrencies.

BLKC marks the latest in a series of moves in the digital asset space for BlackRock, with the most recent being the launch of a private Bitcoin trust on August 11.

In a Sept. 29 report from Finextra, Omar Moufti, product strategist for thematic and sector ETFs at BlackRock, said the ETF "will enable our clients to engage with global companies leading the development of the emerging blockchain ecosystem," adding:

"We believe that digital assets and blockchain technologies will become increasingly relevant to our customers as use cases expand in scope, scale and complexity."

The fund's top five holdings are Coinbase (13.20%), USD cash (13.00%), fintech Bl...