BlackRock, the world's largest asset manager, has just created a new exchange-traded fund (ETF) to provide European consumers exposure to the blockchain business, and reports suggest a Metaverse-focused ETF is on the way. The iShares Blockchain Technology UCITS ETF, which debuted on 27th of September, is a new blockchain ETF.

BlackRock stated that 75% of its assets are blockchain firms like as miners and exchanges, with the remaining 25% being companies that support the blockchain ecosystem. The fund has 35 worldwide corporations out of a total of 50 holdings, including fiat currency and derivatives, but does not invest directly in cryptocurrencies. BLKC is the latest in a series of steps by BlackRock into the digital assets industry, with the most recent being the 11th of August introduction of a private spot Bitcoin trust.

BlackRock product strategist for thematic and sector ETFs Omar Moufti stated that the ETF will give their customers the option to connect with global enterprises leading the development of the burgeoning blockchain ecosystem. The news is important because, if the largest asset management firm in the world offered crypto-related companies, it could be good for crypto itself and attract many investors. 

Sources:

https://www.investing.com/news/cryptocurrency-news/blackrocks-newest-etf-invests-in-35-blockchainrelated-companies-2902412

https://cointelegraph.com/news/blackrock-s-newest-etf-invests-in-35-blockchain-related-companies

https://www.investmentweek.co.uk/news/4057179/blackrock-launches-blockchain-technology-etf

https://www.coinfi.com/news/1324628/blackrocks-newest-etf-invests-in-35-blockchain-related-companies