China could soon have its first blockchain ETF

Chinese asset management firm Penghua Fund, with over $80 billion in client assets, has filed an application for listing a blockchain exchange-traded fund (ETF) in the country.

China Securities Regulatory Commission (CSRC), the country's financial watchdog, is currently reviewing Penghua’s application, according to information from the CSRC website.


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If the watchdog approves Penghua’s fund, dubbed Penghua Shenzhen Stocks Blockchain ETF, China will have its first blockchain-themed fund, according to a report from Shanghai Securities News.

Headquartered in Shenzhen, Penghua has over 564 billion yuan (~80.79 billion) in assets under management and manages 159 public funds, 10 national social insurance investment portfolios, and 4 basic pension insurance investment portfolios, according to information from its website. 

Just last week, the Shenzhen Stock Exchange launched a Blockchain 50 Index, which is comprised of the top 50 blockchain-related stocks by market capitalization. The index currently has companies from several sectors, including Ping An Bank and internet firm Wholeasy, which invested $80 million in bitcoin miners last year.

Elsewhere in the world, there are at least seven blockchain ETFs operating currently, including Invesco-Elwood's fund listed on the London Stock Exchange. In June, The Block analyzed the performance of these ETFs and found that their value surged sharply between January to May of this year.

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