BlackRock has launched a blockchain exchange-traded fund (ETF) that provides a 'gradual entry point' into the technology

BlackRock unveiled its new iShares Blockchain and Tech ETF (IBLC) on Wednesday, allowing investors to obtain exposure to the blockchain sector without making direct cryptocurrency transactions.

According to BlackRock, the exchange-traded fund monitors companies involved in the "creation, innovation, and application of blockchain and crypto technology" in the United States and internationally. The fund now has about $4.7 million in net assets spread among 34 positions, excluding cash and derivative exposures.

According to Rachel Aguirre, BlackRock's head of US iShares product, the ETF provides a "gradual entry point into the blockchain ecosystem," with assets such as crypto exchanges, crypto miners, and underlying technology.

"Over the last two years, the entire blockchain ecosystem has seen fast growth, and there are a variety of economic and sociological causes fueling this growth," she said.

Aguirre went on to say that blockchain technologies are particularly appealing to millennials because they enable financial inclusion in previously unimaginable ways.

As decentralized banking adds to the transition toward an emerging trend, blockchain technology, for example, is allowing customers to retake control of their personal data, she said.

"We're certain that we're reaching a tipping point, that this confluence of factors is coming together," Aguirre added. "Now is the time for investors to get in on what we believe will be exponential growth going forward."


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