The strong interest in cryptocurrencies is further evident in the number of crypto transactions crossing the $1 trillion mark, which focuses on ETFs like the Global X Blockchain ETF (BKCH).
Furthermore, companies like Blockchain.com going public are driving even more interest into the space.
“In a Forbes interview released on Monday, Kgil said Blockchain.com could consider an initial public offering in 18 months or more. The company had a $5.2 billion valuation following a $300 million funding round in March and a $120 million round in February,” a Coin Telegraph report noted.
“At the time of the former, CEO Peter Smith said the company was ‘carefully considering its public-market options,’” the report added. “Major cryptocurrency exchange Coinbase did not officially go public on the Nasdaq until April when the firm reportedly had a $100 billion valuation, and Coinbase Pro was handling more than $3 billion in daily transactions.”
Investor interest, both retail and institutional, are continuing to fuel demand for cryptocurrencies as a store of value amid growing speculation.
“In a Monday blog post, Kgil said that Blockchain.com had surpassed $1 trillion in crypto transactions, most likely driven by retail investors and institutional adoption through the platform’s brokerage and exchange business,” the report said further. “She added that the company’s balance sheet consists of Bitcoin (BTC), Ether (ETH), altcoins, and cash.”
Strong Start for BKCH
BKCH, which debuted in July, is already up close to 30% since its inception. The fund seeks to provide investment results that generally correspond to the price and yield performance, before fees and expenses, of the Solactive Blockchain Index.
The fund invests at least 80% of its total assets, plus borrowings for investments purposes (if any), in the securities of the index and in American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs” based on the securities in the underlying index. The underlying index is designed to provide exposure to companies that are positioned to benefit from further advances in the field of blockchain technology.
BKCH gives investors access to:
- High Growth Potential: The global blockchain solutions market is expected to increase more than 50% from 2020 to 2021.
- Global Tailwinds: Blockchain technology is a global theme, poised to benefit as government and industry seek to improve the accuracy, transparency, and security of financial transactions.
- An Unconstrained Approach: This theme is bigger than just cryptocurrency. BKCH invests accordingly, with global exposure across multiple sectors and industries.
For more news and information, visit the Thematic Investing Channel.