Invesco Blockchain ETF Trading Commences on London Stock Exchange
Invesco, an American investment management company that is traded on the S&P 500, has launched an exchange-traded fund (ETF) targeting companies operating in the distributed ledger technology sector. The blockchain ETF will track nearly 50 companies that stand to benefit from growth in the distributed ledger technology industry including Taiwan Semiconductor Manufacturing Company and Apple.
Invesco Launches Blockchain ETF
The Invesco Elwood Global Blockchain UCITS ETF commenced trading on the London Stock Exchange on Monday, March 11. The index is calculated by Solactive AG for Elwood Asset Management.
The fund targets 48 companies that Invesco believes stand to generate significant earnings from the growth of the distributed ledger technology industry. The companies included in the Invesco Global Blockchain UCITS ETF were determined by a proprietary scoring system developed by Elwood.
Chris Mellor, the head of ETF equity product management at Invesco, stated: '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.'
80 Percent of Companies Targeted Based in US, Japan or Taiwan
The companies included in the fund comprise the world's largest semiconductor manufacturer Taiwan Semiconductor Manufacturing Company, cryptocurrency futures operator Chicago Mercantile Exchange Group, South Korean messaging app Kakao, alongside Monex Group, Overstock, Signature Bank, Square and others.
The largest sector allocation of the portfolio is information technology with 46 percent, followed by financials with 23 percent, communication services with 9 percent, and consumer discretionary sectors with 8 percent.
The largest geographical allocations are the United States with 39 percent, Japan with 29 percent, and Taiwan with 12 percent.
Bin Ren, the chief executive officer of Elwood Asset Management, noted: 'We are beginning to see the technology being used by financial services companies in particular, but we expect the greater application of blockchain technology across a wide range of industries.'
At Bitcoin.com there's a bunch of free helpful services. For instance, have you seen our Tools page' You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post Invesco Blockchain ETF Trading Commences on London Stock Exchange appeared first on Bitcoin News.
Xena Launches Leveraged Contract for Yet to Be Released Telegram Token
73-Year-Old Investor Marc Faber Makes First Ever BTC Purchase
Developer Launches Mturk Alternative 'Taskopus' Powered by Bitcoin Cash
SEC Chairman Confirms Cryptocurrencies Like Ethereum Are Not Securities
Malta Appoints Cybersecurity Firm Ciphertrace to Monitor Crypto Transactions