Invesco, a US-based independent investment management company, is all set to launch its own ETF, or Exchange Traded Fund at the London Stock Exchange. The company is planning to lay its focus on 48 blockchain related companies including Apple, Intel, Advanced Micro Devices, Taiwan Semiconductor Devices, and CME Group.
The companies were screened and selected on a scoring system modulated and developed by Elwood Asset Management.
The Exchange Traded Fund by Invesco went live on 11th March 2019. The Invesco Elwood Global Blockchain ETF will charge a management fee of 65 basis points. It is also planning on investing in Taiwan Semiconductor Manufacturing, a company which specializes in mining chips for cryptocurrency enterprises. The company launched its first ETF in Europe providing its first services to the fintech and biotechnology enterprises.
Invesco’s ETF was built in collaboration with Elwood Asset Management, a crypto investing firm. The ETF plans on assessing the performance of Elwood Blockchain Global Equity Index by physically investing in the index constituents. The index is so designed so as to evolve itself with the growth of the blockchain technology.
The index sector allocations are as follows; the largest index sector is allocated to information technology which is 46%, 23% in financials, 9% in communication services and 8% for both materials and consumer discretionary sectors. The most significant geographical allocations are as follows; with the US being the largest (39%) followed by Japan (29%) and Taiwan (12%).
With the launch of the ETF, the company plans on utilizing the power of blockchain and crypto technology to dominate the sectors of the financial market. The amalgamation of the two crypto enterprises would provide the best of both worlds, finding the perfect opportunities to garner in massive real revenue.
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