The Invesco Elwood Global Blockchain ETF has launched trading on the London Stock Exchange today, Financial Times reports. It will invest in blockchain-related companies, such as the mining chip manufacturer Taiwan Semiconductor Manufacturing. In total, the ETF is planning an investment in 46 firms. In order to choose them, the ETF is going to use Elwood Asset Management’s proprietary scoring system.
“We are beginning to see the technology being used by financial services companies in particular, but we expect greater application of blockchain technology across a wide range of industries,” said Elwood chief executive Bin Ren.
Invesco’s head of ETF equity product management in Europe Chris Mellor believes blockchain companies' share prices often don't reflect the technology’s potential to increase the revenue.