Blackrock filed with the SEC to launch Ishares, its first blockchain ETF
, one of the world's largest asset managers, BlackRock, which manages about $9.5 trillion in assets, has filed for the creation of the Ishares Blockchain and Tech ETF, which tracks blockchain-related technology indexes. The existence of the
Ishares Block technology ETF was first reported by BusinessInsider in December last year. It will track the NYSE FactSet Global Blockchain Technology Index (launched December 31), which includes cryptocurrency mining, cryptocurrency trading and mining systems designed to track the performance of blockchain and cryptocurrency technology development and participants around the world. Blackrock also plans to allocate up to 80% of the ETF's funds to stocks in the index, with the rest allocated to equity-based futures, options and swaps. The Ishares Block Technology ETF will not invest directly or indirectly in cryptocurrencies. As previously reported, BlackRock has been confident in BTC since it officially announced its entry into the space in February of last year. In addition to investing in 37 CME bitcoin futures contracts in April last year, BlackRock CHIEF Executive Larry Fink has said he believes cryptocurrencies will become a great asset class, possibly alongside gold. By August, BlackRock had splashed out $380 million on stakes in Bitcoin miners Marathon Digital Holdings, RiotBlockchain, It has 6.71 percent ($207 million) and 6.61 percent ($176 million), respectively." In September, during bitcoin's wild swings, BlackRock's Rick Rieder, chief investment officer of global fixed income, was confident that bitcoin could rise significantly, adding that he liked volatile assets with upside characteristics: "I would expect bitcoin to rise significantly." Shortly after Reid spoke, bitcoin hit its current all-time high of $69,000 in November.