London Stock Exchange lists blockchain exchange-traded fund (ETF)

The London Stock Exchange (LSE) has continued to branch out into the blockchain and cryptocurrency space by listing a blockchain exchange-traded fund (ETF).

Investment management company Invesco were behind the listing having partnered with Elwood Asset Management, who specialise in digital assets.

The product launched on the LSE is called “Invesco Elwood Global Blockchain UCITS ETF”, and it is aimed at companies who can leverage blockchain technology to generate “real earnings”.

Bin Ren, CEO of Elwood, said in the official press release: “Blockchain has been around for a decade, but many people still see it just as the technology behind cryptocurrencies.”

He added: “The true potential, however, may extend far beyond that. We are beginning to see the technology being used by financial services companies in particular, but we expect greater application of blockchain technology across a wide range of industries.”

Elwood’s index will collate data from 48 cryptocurrency companies including the likes of Japanese exchange Monex Group and the CME Group, due to its listing of Bitcoin futures.

Ren concluded: “We believe the potential for blockchain to change the global economy is greatly underappreciated in today’s market, much like the internet was in the beginning, when most people couldn’t see past its usefulness for email.”

The listing of a blockchain ETF comes just one week after the London Stock Exchange Group invested in the world’s first cryptocurrency bond, demonstrating a change in sentiment about blockchain from institutions.

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https://dev.coinrivet.com/breaking-london-stock-exchange-invests-in-worlds-first-cryptocurrency-bond/