China is Expecting its First-Ever Blockchain Exchange-Traded Fund
Shenzhen is expecting its nation’s first exchange-traded fund (ETF) that will track blockchain-themed stocks as underlying assets.
Penghua Shenzhen Stock Exchange Blockchain ETF’s application was filed by the Chinese asset management firm, Penghua Fund. The Shanghai Securities News reported that the application was accepted by the China Securities Regulatory Commission (CSRC).
The proposed blockchain ETF aims to track the performance of Shenzhen-listed public stocks that own businesses in the blockchain industry.
The Shenzhen Stock Exchange also issued the Shenzhen Stock Exchange Blockchain 50 Index simultaneously. The report indicated that brokerage research stated that after the Shenzhen Stock Exchange launched the Blockchain 50 Index, there may be an increase of new blockchain index and related themed fund products launching in the future, broadening the opportunity for capital entry.
According to the report, if the application receives final approval from the CSRC, it would result in the nation’s first blockchain-themed ETF that is open to public investors.
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