The Toronto Stock Exchange (TSX) has announced the launch of The Horizons Blockchain Technology and Hardware Index., according to Bloomberg.
ETF - is an investment fund which is traded on a stock exchange. It provides traders with an opportunity to enter the market securely by diversifying their risks through forming a basket of assets. The new ETF will join other funds from the Harvest Portfolio Group Inc. and the Evolve Funds Group Inc.
Why it is important
- TSX is the largest exchange in Canada, third largest in North America and the second in the world by the number of issuers. The monthly trading turnover of the exchange is equal to $100-130 billion. It’s considered a privilege to get the listing on the TSX.
- Horizons Blockchain Technology and Hardware - is not the first fund to be traded on the Toronto Stock Exchange. TSX has outlined its commitment to work with cryptocurrency investment funds. Among these, you can find well-known companies such as Hive Blockchain Technologies Ltd., Nvidia Corp., and the Digital Realty Trust Inc.
The main focus of Horizon ETF will be the provision of hardware and services. The company, which is based on the Solactive Blockchain Technology and Hardware Index, will appear on the market with the symbol BKCH. Steve Hawkins, a co-chief executive officer of Horizons ETFs Management Canada Inc., said in an interview with Bloomberg:
“We don’t know which individual blockchain companies are going to work, we have no idea what the extent of the blockchain applications will be, but we do know people will have to invest in the infrastructure to build out blockchain. It’s going to be these ancillary services to the blockchain technology where the winners are going to be at the end of the day.”
By Nadya Astam