Blockchain-Focused ETF launched on London Stock Exchange
|- Invesco has announced the launch of the ‘world’s biggest blockchain-focused ETF.
- Its total portfolio upon launch will include 48 companies.
Invesco, an independent investment management company with over $800 billion in assets under management, has announced the launch of the ‘world’s biggest blockchain-focused ETF. The fund, which will be launching on the London Stock Exchange, will focus on companies with exposure to the blockchain technology. Chris Mellor, head of EMEA (Europe, the Middle East, and Africa) ETF equity product management at Invesco, said:
“The potential for blockchain to drive real earnings is huge, but it is often hidden within companies involved in other areas. This ETF offers investors access to companies with real earnings now, but with the added potential of blockchain-related earnings not reflected in their share prices.”
The total portfolio upon launch will include 48 companies, based on a proprietary scoring system developed by Elwood Asset Management, a specialist crypto investment boutique backed by Alan Howard, co-founder of the Brevan Howard hedge fund. Bin Ren, Elwood chief executive, stated:
“We are beginning to see the technology being used by financial services companies in particular, but we expect greater application of blockchain technology across a wide range of industries.”
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