[ad_1]
Atlanta-based investment firm Invesco, which managed $ 926 billion in November 2018, launched a blockchain-traded fund (ETF) on the London Stock Exchange. The UCITS Invesco Elwood Global Blockchain UCITS was developed in partnership with the British digital asset company Elwood Asset Management.
The ETF will provide investors with exposure to companies generating profits directly from encryption and bitcoin-related activities.
The ETF will initially be used for investments in 48 companies listed on the Elwood Blockchain Global Equity Index.
The basket of companies includes Taiwan Semiconductor Manufacturing, a manufacturer of cryptographic mining chips; CME Group and Cboe, which launched the trading of Bitcoin futures in December 2017; Square payment processor, which recorded Bitcoin sales of $ 166 million in 2018 through its user-friendly encryption application, Cash App; Samsung, which would have integrated a cryptographic wallet into its new Galaxy S10 model to support Ethereum; SBI Holdings, a partner of Ripple, operator of the new VC Trade encryption exchange; and Overstock, operator of tZero, a crypto and bitcoin trading system based on a chain of blocks.
Amazon, Apple, Intel, Microsoft and Rakuten are other big tech companies.
Said Bin Ren, CEO of Elwood,
"The blockchain has been around for a decade, but many people still see it as the technology behind crypto-currencies. However, the real potential can go far beyond that. We are starting to see the technology used by financial services companies in particular, but we expect greater application of blockchain technology in a wide range of sectors. We believe that blockchain's potential to change the global economy is greatly underestimated in the current market, much like the Internet was at the beginning, when most people did not see beyond its usefulness for mail electronic.
According to the announcement,
"The ETF aims to generate the performance of the Elwood Blockchain Global Equity Index by physically investing in the components of the index. The index provides exposure to global companies in developed and emerging markets that participate or have the potential to participate in the blockchain ecosystem. It is designed to evolve with the growth potential of blockchain technology. "
The largest sectors of the index
[ad_2]
Source link