Investment management company Invesco has launched an ETF (stock fund index) on the London Stock Exchange for blockchain companies. The launch happened in partnership with London-based Elwood Asset Management, specialized in digital assets. Therefore, according to Elwood, the fund seeks to invest in companies with real earning potential.
According to Coindesk, the fund seeks to reflect the performance of the Elwood Blockchain Global Equity Index and has a management fee of 0.65% per annum. The index is made up of 48 companies with business related to the blockchain. Among them are chip maker Taiwan Semiconductor Manufacturing Company, the futures company of bitcoin CME Group and the retailer Overstock.
Unlike ETFs under review by the SEC, this is not directly related to cryptocurrencies. However, it is still an important step for crypto technology, which has been gaining prominence in the institutional market.
This market has been gaining the trust of institutional capital. Recently, Cambridge Associates has advised its clients to invest in digital assets. Therefore, it is more indicative of the great attractiveness of the segment. In the future there will be only one market with traditional assets and crypto.