Dec 31, 2019 (China Knowledge) - Shenzhen-based asset manager Penghua Fund is set to launch the first blockchain exchange-traded fund (ETF) in China, pending approval from the CSRC.
The blockchain ETF will track performance of a selected number of publicly traded stocks of companies operating in the field of blockchain technology on the SZSE. The blockchain ETF was filed at the same time the SZSE announced the Blockchain 50 Index, which comprises of 50 stocks listed on the exchange that operates in the blockchain industry.
According to SZSE, the Blockchain 50 Index will track companies operating in different aspects of the blockchain ecosystem and selects the Top 50 by market capitalization.
China’s blockchain industry is expected to grow rapidly in the next few years, following increasing support by the government on the research and development of blockchain technologies in China. Although Penghua Fund’s blockchain ETF is still pending approval, analysts believe that similar blockchain ETFs will also spring up should the launch be successful.
The blockchain ETF will also become China’s first following similar funds in the US and UK.
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