The world’s largest asset manager BlackRock has now filed for a new ETF. The crypto space has been characterized by ETF filings ever since the first Bitcoin Futures ETF made its debut on the trading markets. Since then, there have been more futures ETF filings surrounding bitcoin and ethereum, as well as spot ETF filings which are yet to be approved despite being an investor favorite.
Now, BlackRock has broken out of the mold by filing a completely different kind of ETF. Instead of clamoring with the rest of the market for a bitcoin spot ETF, the asset manager has gone with a blockchain tech ETF filing.
BlackRock Wants A Blockchain ETF
In an SEC filing that was submitted by the asset manager, BlackRock made known that it had submitted a filing for a blockchain and tech ETF. This ETF, called the iShares Blockchain Tech ETF, will track the NYSE FactSet Global Blockchain Technologies Index (NYFSBLC). This index is composed of a number of companies that are active in the “development, innovation and utilization of blockchain and crypto technologies,” the filing read.
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Although this ETF is focused on the crypto space and technologies associated with the industry, BlackRock does not intend to buy crypto or trade it directly. Instead, the asset manager will invest up to 80% of the ETF assets into stocks that are included in the NYFSBLC.
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