United States-based investment management company Invesco is launching a blockchainexchange-traded fund (ETF) on the London Stock Exchange (LSEG) today, March 11, financial newspaper Financial Times reports on March 9.
Per the article, the Invesco Elwood Global Blockchain ETF will initially be targeting 48 companies involved with blockchain technology. The firms were reportedly selected through a proprietary scoring system developed by crypto investment boutique Elwood Asset Management.
The article cites Apple, chip manufacturer Intel, graphics processing units manufacturer Advanced Micro Devices, mining hardware manufacturer Taiwan Semiconductor Manufacturing and United States exchange supporting Bitcoin futures CME Group as examples of companies included in the ETF.
Financial Times also points out that blockchain is not synonymous with decentralized cryptocurrencies, citing the JPM Coin, the stablecoin announced by JPMorgan Chase in February.
As reported last month, U.S.-based Investment management firm AdvisorShares and investments advisory company Sabretooth Advisors announced they will jointly launch an exchange-traded fund that tracks tech companies, including those involved with blockchain and cloud computing.
Also, at the end of January, the Chicago Board Options Exchange, investment company VanEck and financial services firm SolidX re-applied with the U.S. Securities and Exchange Commission (SEC) for a rule change to list a Bitcoin (BTC) ETF.