Blockchain ETFs Launched On Nasdaq, NYSE

Blockchain | January 19, 2018 By:

Two blockchain exchange-traded funds (ETF) started trading earlier this week.

Amplify Transformational Data Sharing ETF is traded on the NYSE Arca with the ticker BLOK and has an expense ratio of 0.70%.

Reality Shares Nasdaq NexGen Economy ETF is traded on the Nasdaq with the ticker BLCN.

Both ETFs originally contained the word “blockchain” in its name, but the US Securities and Exchange Commission (SEC) required the fund issuers to remove the term. Both funds went live on January 17.

Amplify’s BLOK is an actively-managed ETF investing in publicly-traded global companies leading the research, investment, and revenue creation related to blockchain and other distributed ledger technologies. It will track companies like Citigroup, Nvidia, IBM, Square, and Overstock among others.

“We think the blockchain technology is going the transform the leaders in investment and research into this technology,” said Christian Magoon, CEO of Amplify ETFs. “We are trying to skate where the puck is going to be in the future.”

Reality Shares’ BLCN, on the other hand, will hold between 50 to 100 constituents at any given time. It will track the Reality Shares Nasdaq Blockchain Economy Index, which is made up of companies committed to researching, implementing, supporting, and applying blockchain for different use cases. The index includes companies like SAP, Overstock, Accenture, and Hive.

“The blockchain ecosystem potentially presents one of the most profound, long-term investment opportunities many of us have or will ever see in our lifetime,” said Eric Ervin, CEO of Reality Shares. “Furthermore, blockchain is still in its infancy, and we are confident it will have far-reaching, disruptive effects in nearly every industry.”