Invesco, a United States-based investment management company collaborates with crypto investment boutique Elwood Asset Management will be launching a blockchain exchange-traded fund (ETF) on the London Stock Exchange (LSEG), today, March 11.
As per the article published by the financial newspaper Financial Times on March 9, the Invesco Elwood Global Blockchain ETF will start off by targeting 48 companies involved with blockchain technology. Reportedly, the firms were selected through a proprietary scoring system that was developed by Elwood Asset Management.
The article cites some giant tech companies as an example of companies included in the ETF, including Apple, chip manufacturer Intel, mining hardware manufacturer Taiwan Semiconductor Manufacturing, graphics processing units manufacturer Advanced Micro Devices and United States exchange supporting Bitcoin futures CME Group.
The publishing further noted that blockchain is not synonymous with decentralized cryptocurrencies and cited the JPM Coin, the stablecoin announced by JPMorgan Chase in February as an example.
Just last month, another U.S.-based Investment management firm AdvisorShares partnered with investments advisory company Sabretooth Advisors to announce the joint launch of an exchange-traded fund, that will tracks tech companies, including those involved with blockchain and cloud computing.
Image from Invesco.com