JP Morgan CEO Jamie Dimon has been a vocal detractor when it comes to cryptocurrencies. Still, he praised blockchain technology, calling it “real” during an International Finance (IIF) event, as reported by Coindesk.
Dimon’s own company utilizes blockchain technology to facilitate fast and efficient blockchain payments via its Onyx platform. It’s a prime example of how traditional finance firms like JP Morgan work with technology like blockchain to enhance their products and services.
“Onyx has pioneered the world’s first blockchain-based platform for wholesale payments transactions, helping to transform the way that money, information, and assets are moving around the world,” the company website noted.
“We are innovators who have cultivated a deep understanding of institutional banking and technology to create reliable infrastructure and services for the world’s most pressing problems – starting with digital assets, payments, and information sharing within banking,” the site added.
An Active Management Play
Passive management was outperforming active management during the recent decade-long bull run, but the tide is starting to turn. As such, actively managed opportunities are worth noting, especially when it comes to getting exposure to the high growth potential of blockchain technology.
Investors looking for active strategy opportunities in blockchain technology can look to exchange traded funds (ETFs). In particular, the Amplify Transformational Data Sharing ETF (BLOK ) is an option to consider.
The fund features an active management strategy that can flex with the market’s movements by putting holdings in the hands of seasoned portfolio managers. BLOK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.
While the majority of the fund (75%) contains holdings in North America-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia-Pacific. This allows the fund to gain exposure to growth opportunities abroad where blockchain technology could be utilized to its fullest extent.
The fund invests in companies partnered with or directly investing in companies utilizing and developing blockchain technology, the technology behind cryptocurrencies like bitcoin.
Summary of BLOK’s features per its product website:
Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
An active management approach could enable the fund to remain flexible, make timely decisions, and identify companies that are best positioned to profit from the developing blockchain technology space.
Convenience and transparency of the ETF structure.
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