Two Blockchain ETFs Are Hitting The Market
January 17 2018 - 3:41AM
RTTF2
The investing world will be presented with two new products on
Wednesday that try to cash in on the blockchain technology that
underlies Bitcoin.
Reality Shares Inc. and Amplify Investments LLC are launching
their Exchange-Traded Funds, or ETFs, focused on investing in
companies that lead in the research and development of blockchain
and invest in the technology to generate revenue.
The Reality Shares Nasdaq NexGen Economy ETF will list on NASDAQ
under the ticker BLCN and the Amplify Transformational Data Sharing
ETF will trade under the ticker BLOK on NYSE Arca.
The two news ETFs seek to invest in companies such as Intel,
Overstock, IBM, Cisco, Barclays, Microsoft and Hitachi, which are
at the forefront to expanding the scope of blockchain into
different sectors.
Concerned over the abuse of the word 'blockchain' by companies
to boost their image and stock price, the U.S. Securities and
Exchange Commission reportedly asked both firms to drop the word if
they are not investing in companies that derive a significant
portion of their revenue from such technology.
The securities market watchdog has been concerned over the
recent surge in the price of Bitcoin and its rivals, and repeatedly
denied approval for ETFs that seek to invest directly in
cryptocurrencies.
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