BlackRock is Launching Yet Another Crypto Exchange-Traded Fund

• BlackRock launches a new exchange-traded fund.
• This comes few months after it launched an ETF that hasn’t been very successful.
• Coinbase and Marathon Digital are included in the previous ETF.

BlackRock, the biggest exchange-traded fund issuer in the world, has recently launched a new exchange-traded fund (ETF) that will reportedly provide European consumers with exposure to the blockchain business.

The launch comes only a few short months after BlackRock introduced a digital assets fund that has so far been unsuccessful in attracting investors. “iShares Blockchain Technology UCITS ETF (BLKC)” is the name of the brand-new exchange-traded fund (ETF) that was introduced on September 27. Additionally, BlackRock is submitting an application for a new metaverse product.

Commenting on the launch, Omar Moufti, the Product Strategist at BlackRock, said:

The continued proliferation of blockchain technology underscores its potential across many industries. The exposure offered by the iShares Blockchain Technology UCITS ETF will allow our clients the opportunity to engage with global companies leading the development of the emerging blockchain ecosystem.

Furthermore, Moufti went on to say that they think blockchain technologies and digital assets are likely to become more important for their customers as use cases grow in breadth, size, and complexity.

BlackRock representatives said, “[It is] designed for investors wanting exposure to a wide variety of companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies.”

Coinbase, the most prominent cryptocurrency exchange in the United States, Jack Dorsey’s fintech company Block, Marathon Digital and Riot Blockchain, two of the biggest BTC miners in the world, and USD Cash are all included in the iShares Blockchain and Tech ETF (IBLC), which is the ETF aforementioned that was formed earlier this year by the cryptoasset manager.