First Blockchain ETFs Begin Trading on NASDAQ, but Without Blockchain

18.01.2018 / 12:17

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Two exchange-traded funds that track and invest in the blockchain ‎ecosystem will make their debut later today, in a bid to offer investors ‎exposure to one of the most hotly-watched new technologies in years. ‎

However, ironically, the US Securities and Exchange Commission (SEC) told ‎the first blockchain ETFs in the last minute to tweak their names and erase ‎the word ‘blockchain’.

The regulator insisted on the name changes as investors seem ‎desperate for any kind of blockchain exposure, to the point where ‎many startups that put the word blockchain, or other cryptocurrency terms, ‎into their name have seen their share prices soar.

Analysts compared the trend ‎with what happened during the tech bubble, where many the technology ‎firms got a strong boost just for adding ‘dot-com’ to their brand name.‎

The fund from Amplify Investments, The Amplify Transformational ‎Data Sharing ETF (NYSEARCA:BLOK), is an actively managed fund ‎that seeks to offer exposure to companies and other securities involved in ‎blockchain. This means that the holdings will be individually selected by a ‎portfolio manager, based on a proprietary ranking system‎, as opposed to its ‎tracking the performance of an underlying index.‎

Separately, Reality Shares Nasdaq NexGen Economy ETF ‎‎(NASDAQ:BLCN) will be a passively managed vehicle that tracks the growth ‎and development of companies involved in creating and implementing blockchain ‎solutions.

According to its filing with the SEC: “The ‎Reality Shares fund is designed to measure the returns of companies that are ‎committing material resources to developing, researching, supporting, innovating or ‎using blockchain technology for their proprietary use or for use by others.” ‎

Source: Finance Magnates

Jr Trader Alexander Kumanov

Varchev Traders

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First Blockchain ETFs Begin Trading on NASDAQ, but Without Blockchain

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