China's Securities Regulatory Commission (CSRC) has just received an application for listing an exchange traded fund (ETF) linked to shares of companies focused on blockchain tech.
The application was reportedly filed by asset management firm Penghua Fund and accepted by the CSRC on December 24. The ETF will track and reflect movements in the shares of blockchain companies listed on the Shenzhen Stock Exchange (SZSE).
If it is approved, the fund will become the country's first blockchain ETF.
The Shenzhen Stock Exchange has recently launched an index that tracks the shares of 50 blockchain firms. The index, dubbed the Blockchain 50 Index, only includes companies that have been listed on the SZSE for more than 6 months, have no problems with regulators and actually use blockchain tech.
The Blockchain 50 Index includes companies such as Ping An Bank, logistics firm SF Holding, media agency Visual China Group and home appliance manufacturer Midea Group. It must be noted that the index will be updated twice a year.
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