BlackRock files for an ETF focusing on blockchain and technology

The financial firm is adding the iShares blockchain tech ETF to its holdings, which manages $10 trillion in assets.

BlackRock files for an ETF focusing on blockchain and technology

iShares blockchain tech ETF is a proposed exchange-traded fund (ETF) by Blackrock, a financial firm that will manage $10 trillion in assets as of January 2022.

The Intercontinental Exchange (ICE) has listed the fund as tracking the NYSE Factset Global Blockchain Technologies Index in a SEC filing submitted by Blackrock.

NYSE FactSet Global Blockchain Technologies Index will be used to track the ETF.

The iShares filing did not provide specific information about the components of that index; however, according to it, component companies include "(a) cryptocurrency mining, (b) crypto exchanges and trading, and (c) the index may include publicly traded crypto miners as well as crypto exchange Coinbase."

This index comprises of companies offering blockchain tech, crypto mining, cryptocurrency trading and exchanges, crypto-mining systems, and video multimedia semiconductors.

BlackRock's global ETF head, Salam Ramji, had earlier said on Bloomberg's "Trillions" podcast in December that a thematic fund focused on blockchain technology was in development.

A Bloomberg Intelligence report says that 15 ETFs track crypto-linked securities as the SEC continues to hold out on approving a Bitcoin ETF.

In December, Ramji said that the company would set high standards for liquidity and transparency for its cryptocurrency funds.

"As the regulatory environment clears up, and the liquidity dynamics of the market align more with our view, some of those dynamics will work in our favor," Ramji added.