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Management Firm Invesco launches Blockchain-based ETF

Investment management Firm Invesco recently announced the launch of the world’s largest blockchain-based ETF. The firm has over $800 billion in assets under its management.

The Invesco Elwood Global Blockchain ETF will start trading on the London Stock Exchange on Monday. The news came through leading media house, Financial Times 

As per a leading media outlet, Zero Hedge, the blockchain based ETF will also include a portfolio launch of 48 companies having some focus on blockchain. 

These include Taiwan Semiconductor Manufacturing. The firm supplies cryptocurrency mining machine manufacturers with chips. Moreover, it will have a 65 basis points management fee. Also, it will include firms like Apple, Intel, and Advanced Micro Devices (AMD).

Blockchain’s Untapped Potential

Chris Mellor,  head of ETF equity product management of Invesco in Europe, that blockchain’s potential to escalate earnings is often not visible in share prices of firms such as Rio Tinto. The latter is a mining giant having hydroelectric assets which can be tapped for crypto mining. 

The report reads:

The ETF will initially invest in a portfolio of 48 companies based on a proprietary scoring system developed by Elwood Asset Management, a specialist crypto investment boutique backed by Alan Howard, co-founder of the Brevan Howard hedge fund.

From the CEO’s Desk

The CEO of Elwood, Bin Ren, observed that blockchain potential is highly underrated. Per his words,

“We’re “beginning to see the technology being used by financial services companies in particular, but we expect the greater application of blockchain technology across a wide range of industries."

While there are several blockchain-based ETFs in the market, they have not managed to attract a large amount of capital. However,  ZeroHedge’s Amplify Transformation Data Sharing ETF has a staggering  $110 million in assets.

Interestingly, investors in Wall Street firms are betting high stakes crypto and its underlying technology-blockchain. More importantly, a group of 14 publicly listed companies with exposure to the crypto ecosystem compiled by Yahoo Finance.  was outperforming the S&P 500 earlier this year.

About Invesco

Invesco Ltd. is an American independent investment management headquartered in. It has branch offices in 20 countries. As a matter of fact, ot operates under the Invesco, Trimark, Invesco Perpetual, WL Ross & Co and Powershares brand names.

Further, in September 2017, Invesco purchased Guggenheim Investment's exchange-traded fund business for $1.2 Billion in cash. Also, the firm purchased OppenheimerFunds from Massachusetts Mutual Life Insurance Co. for about $5.7 billion in stock.