A new platform will physically track the Indxx Blockchain index, investing in a spread of companies that are actively investing in blockchain technology, Indxx said in a press release.
Investee companies will need to have a market cap of $250 million and an average daily turnover value of $1 million. The index will be capped at 100 stocks and be rebalanced semi-annually.
The First Trust Indxx Innovative Transaction and Process Ucits ETF offers exposure to this growing investment class leveraging the liquidity and efficiency that a Ucits ETF structure provides.
Derek Fulton CEO at First Trust Global Portfolios said:
“We are pleased to bring to market this innovative Ucits ETF – BLOK. With an increasing number of institutions harnessing blockchain technology and applications spanning a wide range of industries, we believe the efficiency, auditability and transparency provided by blockchain offers the potential for significant growth opportunities.”
By Ksenia Batanova