London-based bank Kleinwort Hambros has announced the launch of an actively managed exchange-traded note (ETN). The new ETN is listed in Luxembourg and is targeting blockchain businesses. It will be available only to the bank’s clients, with a minimum investment of £1,000 GBP (approximately $1,300).
An ETN is an unsecured, unsubordinated debt security traded on a stock market, similarly to ETFs. According to the press release, the companies available in the portfolio are those most likely to benefit from blockchain adoption and development.
Twenty companies will be included in the portfolio of stocks, originating from different countries and different industries, such as technology, shipping, oil and gas, custody banking and industrials.
“We have seen increasing interest from clients in the area of blockchain and we are very excited to be able to cater to this demand with the launch of our first blockchain note,” said John Birdwood, Portfolio Manager at Kleinwort Hambros. “We have built an innovative product which will provide our clients with the diversified exposure to the promising growth prospects blockchain technology offers, while maintaining the rigorous active management our clients expect.”