London Stock Exchange to Launch Blockchain-driven ETFs

The Bitcoin ETFs are the most awaiting news that many institutions and crypto aspirants are looking ahead for. The investment management firm, like ‘Invesco’, has recently made announcements that the launch of the world’s biggest blockchain focused ETF.

The company, which has more than $800 billion in assets under management, will release the blockchain focused ETF which will include a portfolio of around 50 different firms with exposer to blockchain technology.

The Stellar Lumen (XLM) has been receiving exclusively exciting news that Stellar’s partner, SatoshiPay, is equipped and staged for Initial Public Offering (IPO) on AIM, a sub-market of the London Stock Exchange. As a result, the underlying price has spiked more than 20% in the recent past.

Furthermore, the London Stock Exchange likely to launch world’s largest blockchain-driven ETFs trading. While most in the cryptocurrency universe are desperately awaiting for a Bitcoin ETF approvals, independent investment management company Invesco, which has over $800 billion in assets under management, has announced the launch of the ‘world’s biggest blockchain-focused ETF.

The blockchain-focused exchange-traded fund may include upon launch a portfolio of 48 different companies with exposer to blockchain technology, as per ZeroHedge.

Chris Mellor, the chief of ETF equity product management of Invesco in Europe, has purportedly emphasized the prospects of blockchain as technology to stimulate earnings that would usually not factor in the share prices of companies. 

For instance, Rio Tinto, the mining company who holds hydroelectric resources that could be optimally utilized for cryptocurrency mining operations. 

As per a report “the ETF will initially invest in a portfolio of 48 companies based on a proprietary scoring system developed by Elwood Asset Management, a specialist crypto investment boutique backed by Alan Howard, co-founder of the Brevan Howard hedge fund.”

We witnessed quite a few other blockchain-based ETFs among the crypto-space, the majority of them allured a relatively small amount of capital though. ZeroHdge reports that ‘Amplify Transformation Data Sharing ETF’ has been the largest one with $110 million of assets.

Investors have managed to strike a chord with their mounting keenness in the Wall Street firms betting on cryptocurrencies and the embedded and emerging technology backing such firms. 

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing -158 (which is highly bearish), while the hourly USD spot index was at 6 levels (neutral) at 13:16 GMT. 

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