Invesco is launching a blockchain ETF today on the London Stock Exchange, in partnership with Elwood Asset Management, which specializes in digital assets, and together formed a financial product named, “Invesco Elwood Global Blockchain UCITS ETF.”
Elwood’s announced that the London based Blockchain ETF aims to work with companies that have to capacity to create “real earnings” and is charging an annual fee of 0.65 percent for managing funds.
Elwood’s index portfolio currently consists of 48 companies, including cryptocurrency chipmakers, Bitcoin future trading firms, and mobile messaging app platforms.
The allocations of the index include information technology, financials, communications and materials sectors to varying degrees, with the largest allocations located in the US, Japan and in Taiwan.
Bin Ren, Elwood CEO, stated that they believe blockchain has the potential to change the global economy, which is currently underappreciated, much like the Internet was in its infancy.
Author: Adam Sarwar