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Tag: etf

Major Firm BlackRock To Create It’s Own Blockchain ETF

According to a filing with the US Securities and Exchange Commission on Jan. 21, BlackRock Inc., the world’s largest asset management business, has applied for an exchange-traded fund (ETF) that focuses on blockchain technology.

The iShares Blockchain and Tech ETF invests in firms that are involved in the “creation, innovation, and application of blockchain and crypto technologies” in the United States and overseas, according to the company.

The NYSE FactSet Global Blockchain Technologies Index is followed by the fund.
According to BlackRock, up to 80% of the ETF assets will be invested in equities that are part of the index. The remaining funds would be used to invest in equity-based futures, options, and swap contracts. Furthermore, the fund will not invest in cryptocurrency, either directly or through crypto asset derivatives.

“Similar to shares of an index mutual fund, each share of the Fund represents an ownership interest in an underlying portfolio of securities and other instruments intended to track a market index,” according to the SEC filing.

Avalanche (AVAX) And Polygon (MATIC) Gets Added To VanEck ETNs

VanEck, a New York-based investment management firm, has added two new ETNs to its crypto offerings: Avalanche and Polygon. The ETNs will allow investors to profit from the price of Avalanche (AVAX) without having to acquire the cryptocurrency directly. Polygon and Avalanche join the firm’s lineup of ETNs, which includes Bitcoin, Ether, Polkadot, Solana, and Tron.

ETNs (exchange-traded notes) are similar to ETFs in that they are traded on a stock market and track a benchmark index. An ETN is a senior, unsecured debt product issued by a bank, as opposed to an ETF, which owns assets that are the foundation of the ETF’s pricing.

VanEck’s request to launch a spot Bitcoin exchange-traded fund (ETF) was denied by the Securities and Exchange Commission, although the SEC eventually approved VanEck’s Bitcoin futures-based fund. VanEck’s existing crypto products in Europe, which now include seven exchange-traded notes, are continuing to grow.