The China Securities Regulatory Commission (CSRC) has acknowledged receipt of an application for a blockchain-based exchange-traded-fund (ETF). The application was put forward by Penghua Fund, which is an asset management outfit located in the Shenzhen city.
Filed on December 24, the offering is called the Penghua Shenzhen Stocks Blockchain ETF and is open for public access. The ETF will track all listings of blockchain firms as available on the Shenzhen Stock Exchange. If the CSRC approves Penghua, it will be the first blockchain ETF in the country.
Interestingly, the Shenzhen Stock Exchange announced a new index on the same day. Called the “Blockchain 50 Index”, it was created to list 50 of Shenzhen’s largest blockchain companies. According to an announcement from the exchange, the stocks featured will be adjusted twice a year. This will be on the second Friday in June and in December, every year.
The index already includes firms like Zixin Pharmaceutical, SF Holdings, Ping An Bank. Guangdian Express, and also Midea Group.
A news story, as published by the Shanghai Securities News platform states that the index covers a wide range of blockchain companies. These include both the upstream and downstream portions as well as others like hardware equipment, and technology and services.
As China moves to dominate the global blockchain industry, it recently announced more than 500 registered blockchain projects. It is also set to begin a pilot test of its central bank digital currency CBDC.
Image Credits: Pixabay