$800 Billion Dollar Asset Company Invesco Elwood Global Blockchain ETF Launches on London Stock Exchange
The London Stock Exchange receives a new blockchain exchange traded fund (ETF) that will start trading on the platform as soon as today.
The Invesco Elwood Global Blockchain ETF is being launched by the investment management company and it has over $800 billion in assets under management. This will be the “world’s biggest blockchain” ETF.
New Blockchain ETF Launched on the London Stock Exchange
As reported by ZeroHedge, this new blockchain ETF includes 48 different companies that have exposure to blockchain technology. One of the firms included in this ETF is Taiwan Semiconductor Manufacturing (TSM).
The company provides solutions and hardware equipment to crypto mining machine manufacturers. There are other popular firms such as the Chicago Mercantile Exchange (CME), that offers Bitcoin futures, and other firms such as Apple, Intel, and AMD, among others.
The portfolios are going to be selected according to a proprietary scoring system that was developed by Elwood Asset Management. According to the CEO of the company, Bin Ren, blockchain technology can be included in many other sectors of the economy and not just virtual currencies.
About it, he commented:
“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.”
Chris Mellor, the head of ETF equity in Europe, explained that there is a large potential behind blockchain technology to boost earnings that were not reflected in the share prices of companies.
There are several blockchain-related ETFs operating around the world, but not all of them were able to attract a large amount of capital. Indeed, ZeroHedge explains that the largest is Amplify Transformation Data Sharing ETF, which claims to have $110 million in assets.
Blockchain ETFs allow individuals to have exposure to the distributed ledger technology (DLT) market. The funds could have a different degree of risk. Some of these ETFs focus on small companies and startups that are starting to implement DLT.
Other ETFs invest in large companies that could eventually embrace blockchain technology to improve their products and services.