Nowadays, one of the hot topics which everyone is looking to know about is the Investment Firm Invesco Launches Blockchain ETF on the London Stock Exchange. And that’s what I am going to tell you about today. So, here let’s check this out.
Investment Firm Invesco Launches Blockchain ETF on London Stock Exchange
So, Invesco, the united state based investment management company has launched a Blockchain exchange traded fund (ETF), On the stock exchange of London or you can say the London stock exchange.
So, the Invesco Elwood Global Blockchain exchange traded fund (ETF), will be targeting 48 companies at the initial stage, which are involved with the blocked technology. The crypto investment boutique Elwood asset management has developed a property scoring system according to which the firms were selected.
There are many big companies which are included in the exchange-traded fund (ETF) like, Apple, graphics processing unit manufacturer advance microdevice, chip manufacturer Intel, mining hardware manufacturer Taiwan semiconductor manufacturing, and united states exchange supporting bitcoin future CME group are some of the companies which have been included in the Exchange traded fund (ETF). If you are looking for some help regarding this then you can use the resource via Bitcoin Revolution login.
According to financial times, the blockchain is not synonymous with decentralized cryptocurrencies, citing the JPM coin, the stable coin announced by the JPMorgan chase in February.
Blockchain has been around for a decade, but many people still take it as the technologies behind cryptocurrencies. Explained by the Bin Ren, the CEO of Elwood, “We are beginning to see the technology being used by the financial service companies in particular. But they said that they expect the more significant applications or blockchain technology across an extensive range of industries.
It is believed that the potential for blockchain can change the global economy, but it has been underestimated in today’s market. The index has currently listed 46 percent of companies from the information technology sector, around 23 percent from the financial sector, while Japan and the US dominate on the geographical basis with 29 an 39 percent of share respectively.
As per the report of cointelegraph, last month, US-based investment management firm announced they would jointly launch an exchange-traded fund that tracks tech companies, which include those which have been involved with blockchain and cloud computing.
Last week, around six swiss Exchange, listed an Etherium-backed ETP (Exchange traded product). After the success of two similar products on the exchange.
The ETF carries a fee which is the annual management fee of 0.65 percent, and it also aims to deliver the performance of the Elwood blockchain Global equity index by “physically investing in the index constituents” said by Elwood in his statement.
Seven blockchains based ETF’s have already been launched in the US, but most of them have only attracted only limited investment inflow. The largest of all, the Amplify Transformational Data ETF, has $ 110m in assets. The US assets manager, the first trust launched the first europian-listed blockchain ETF on the Italian stock exchange last year, in February. The innovative process and transaction ETF has just over $ 20m in assets.