BlackRock ventures into cryptocurrency’s realm of trade exch...| MENAFN.COM

Tuesday, 17 May 2022 04:49 GMT

BlackRock ventures into cryptocurrency’s realm of trade exchange


(MENAFN) In the wake of a USD1 trillion crushing defeat, BlackRock, a US investment administration firm, is venturing into the realm of cryptocurrency themed trade exchange funds.

As per a petition with the US Securities and Exchange Commission, the iShares Blockchain and Tech ETF will purchase stocks in businesses associated with the "development, innovation, and utilization of blockchain and crypto technology." It would be the first crypto-adjacent finance in the line-up of the world 's leading ETF provider if it were to be established.

On a December's episode of Trillions’ podcast, Salim Ramji, the director of BlackRock's global ETF unit, stated that a themed blockchain fund was processing.

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