U.S. investment giant BlackRock created an ETF called iShares Blockchain and Tech ETF (IBLC), consisting of shares of cryptocurrency and tech companies.
Unit holders of the fund will receive dividends every six months and pay a low fee of 0.47%. IBLC includes securities of 34 firms. In terms of equity portfolio holdings, the leaders are:
- Cryptocurrency exchange Coinbase (11.45%);
- Mining company Marathon Digital Holdings (11.19%);
- Bitcoin mining organization Riot Blockchain (10.41%).
Simultaneously with the launch of the new fund, BlackRock published a report on three areas of the market that are undergoing permanent change. According to experts, the list of these industries includes the blockchain industry, the potential of which has not been fully disclosed.
The rate of many cryptocurrencies has increased since 2020, but the market has not yet assessed the impact of blockchain technology on the remittance system, contract fulfillment process and consumption mechanism,” says the BlackRock study.
BlackRock experts believe that investments in cryptocurrencies can bring high returns due to the growing popularity of digital assets and blockchain technology among millennials and residents of emerging economies, which account for more than half of the costs of goods and services around the world.