Invesco Blockchain ETF On LSE
March 14 2019 - 12:14PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
March 14, 2019 -- ADVFN Crypto NewsWire -- A new exchange
traded product is available on the London Stock Exchange which
takes a novel approach to providing investors an opportunity to
gain exposure to the blockchain technology and cryptocurrency
industries. Rather than focus on an index that tracks the price
movement of one coin such as Bitcoin, which has been the most
common approach to creating ETPs, this ETF takes things from a
completely different angle.
“The potential for blockchain to
drive real earnings is huge, but it is often hidden within
companies involved in other areas. This ETF offers investors access
to companies with real earnings now, but with the added potential
of blockchain-related earnings not reflected in their share
prices.” - Chris Mellor, head of EMEA (Europe, the Middle East and
Africa) ETF equity product management at Invesco
Other companies have attempted
“basket” style indexes that collect price averages from top
cryptocurrencies as well, but Invesco takes this approached in a
different direction. Rather than use the coins or tokens
themselves, the new Invesco Elwood Global Blockchain UCITS ETF is a
collection of blockchain technology related companies which
currently include:
-
Taiwan Semiconductor Manufacturing
Company (cryptocurrency chip-maker)
-
CME Group (Bitcoin futures trading
operator)
-
Kakao (South Korean messaging
app)
-
Monex Group (Japanese
cryptocurrency exchange operator)
-
Overstock
-
Signature Bank
-
Square
To facilitate the process of
launching the new ETF, Invesco formed a partnership with the
London-based financial company Elwood Asset Management. The company
was formed with for the purpose of specializing in digital assets.
Overall, the weighted balance of companies involved will be
distributed as follows:
-
46% information
technology
-
23% financials
-
9% communication
services
-
8% materials and consumer
discretionary sectors
“We believe the potential for
blockchain to change the global economy is greatly underappreciated
in today’s market, much like the internet was in the beginning,
when most people couldn’t see past its usefulness for email.”
- Elwood CEO Bin Ren
By: BGN Editorial Staff
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