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BlackRock has expanded its Megatrends suite with the launch of a new product: and the iShares Blockchain and Tech ETF (IBLC).
IBLC seeks exposure to global companies at the forefront of the development, innovation, and utilization of blockchain and crypto technologies by tracking the investment results of the NYSE FactSet Global Blockchain Technologies Index. IBLC’s investments will include companies involved in cryptocurrency mining, cryptocurrency trading and exchanges, crypto-mining systems, or blockchain technology. It will not invest directly in cryptocurrencies.
“We believe both of these products are providing compelling investment opportunities, giving access to these themes that are poised for exponential growth and, importantly, that we believe are being underestimated by the market,” said Rachel Aguirre, head of U.S. iShares product, at a press roundtable on April 27 announcing the funds’ launch. Both themes are “central to this shift we see taking place as pertains to changes in consumption patterns.”
“We’re looking across the entire value chain of the theme,” Aguirre added. “We’re looking at not just producers but enablers” of the technology.
IBLC has an expense ratio of 0.47%.
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