fbpx
Skip to content Skip to sidebar Skip to footer

BlackRock Plans Another Crypto ETF Despite Weak Initial Debut

Blackrock invests in bitcoin

  • Despite the lackluster reception of BlackRock’s first slew of ETFs, the asset manager is launching the iShares Future Metaverse Tech and Communications ETF in the hope to turn things around.
  • BlackRock now joins other traditional finance companies in launching funds composed of companies with exposure to the metaverse, including Franklin Templeton, Invesco, and Fidelity.

BlackRock (-3.67%), the world’s largest asset manager, with some US$10 trillion in assets, has already launched cryptocurrency and blockchain-focused ETFs, but is now announcing that it will be creating an ETF that gives its clients exposure to metaverse companies.

Despite the lackluster reception of BlackRock’s first slew of ETFs, the asset manager is launching the iShares Future Metaverse Tech and Communications ETF in the hope to turn things around.

Although prices remain weak, investment and interest in metaverse, blockchain, Web3, and cryptocurrency appear strong despite the negative sentiment and a worsening macroeconomic backdrop.

The BlackRock fund, for which fees and a ticker weren’t yet issued, might possibly include firms that have products or services tied to virtual platforms, social media, gaming, digital assets, augmented reality and associated applications.

Blackrock recently launched the iShares Blockchain Technology UCITS ETF that tracks the New York Stock Exchange FactSet Global Blockchain Technologies capped index, targeted towards European customers.

In August, BlackRock announced it was partnering with Coinbase to provide clients with crypto trading, custody, prime brokerage and reporting capabilities.

BlackRock now joins other traditional finance companies in launching funds composed of companies with exposure to the metaverse, including Franklin Templeton, Invesco, and Fidelity.

 

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

111 North Bridge Road, 21-01, Peninsula Plaza, Singapore 179098.

Phone: +65-80282938

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us