Invesco Blockchain ETF to Trade on London Stock Exchange

Author: Sohrab Khawas

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    Today (March 11 2019), The Invesco Elwood Global Blockchain ETF is all set to trade  on the London Stock Exchange. The investment management company, with more than $800 billion in assets under management, will be introducing  the “world’s biggest blockchain-focused ETF”

    Even though few other blockchain ETFs are already there on the market, few have attracted a relatively large amount of capital. According to ZeroHedge, the blockchain-focused exchange-traded fund will include portfolio of 48 different companies with introduction to blockchain technology.

    For example, Taiwan Semiconductor Manufacturing, which supplies cryptocurrency mining machine manufacturers with chips, and the CME Group, the first regulated US exchange to launch bitcoin futures.

    Moreover,  It’ll includes 65 basis points management fee, and include other firms like Apple, Intel, and Advanced Micro Devices (AMD). Additionally, the largest one was Amplify Transformation Data Sharing ETF, having $110 million in assets.

    These 48 portfolios are selected depending on a proprietary scoring system. It was established by Elwood Asset Management, a specialist crypto investment boutique backed by Alan Howard.

    The CEO of Elwood, Bin Ren, considers that blockchain can be included in many other sectors beyond Cryptocurrency.

    “We are beginning to see the technology used by financial services firms specifically. But we expect huge  application of blockchain technology across a wide range of industries,” said Mr Ren.

    Invesco’s head of ETF equity product management in Europe, Chris Mellor said,

    The potential for blockchain to raise earnings will not reflect in the share prices of companies. He elaborated on Rio Tinto, the mining company that owns hydroelectric assets that could be harnessed for cryptocurrency mining.

    Mar 10 has been  a positive day for Defiance Quantum ETF (QTUM). The ETF was active during the day after gaining 0.1% to hit $23.2 per share. The exchange traded fund has 5.94M net assets and 0.51% volatility this month.

    Recently, Few investors showed great interest in Wall Street company taking  cryptocurrencies and the nascent technology. A team of 14 publicly listed companies with introduction to the crypto ecosystem compiled by Yahoo Finance, as covered, was outperforming the S&P 500 earlier this year.

    What is your opinion on the Invesco Blockchain ETF trading on London Stock Exchange? Share your thoughts on our Twitter and Facebook pages.

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