London Stock Exchange welcomes First Trust celebrating 5 years and the launch of BlockChain ETFs
London Stock Exchange today welcomes the First Trust Indxx Innovative Transaction and Process UCITS ETF or “BLOK”. This physically replicated UCITS blockchain ETF from European ETF distributor First Trust Global Portfolios (“FTGP”) is the first of its kind to launch in Europe. BLOK utilises the Indxx Blockchain index as the underlying benchmark and enables exposure to a spread of companies that are actively investing resources into products or services that use blockchain technology.
FTGP was established in 1991 with a mission to offer investors a better way to invest. Strategically located, FTGP is a UK based affiliate of First Trust Advisors L.P. (“FTA”) and First Trust Portfolios L.P. (“FTP”) (collectively “First Trust”) and distributes a range of First Trust U.S. registered ETFs and Irish domiciled UCITS funds managed by FTA.
The First Trust Indxx Innovative Transaction and Process UCITS ETF will be distributed in certain European jurisdictions by FTGP. The investment policy of the fund is to seek investment results corresponding to the Indxx Blockchain Index (the price and yield before the Fund’s fees and expenses).
The Indxx Blockchain Index holds eligible securities classified by Indxx based on their exposure to blockchain technology and/or the potential to benefit from the increased process efficiency they could provide. Focusing exclusively on active enablers and active users of blockchain, the index will only consider companies with a minimum market cap of $250 million and a three month average daily turnover value of $1 million. Capped at 100 constituents, the index is rebalanced and reconstituted semi-annually.
The Fund was admitted to the Main Market on 10th April trading under the Bloomberg Ticker BLOK LN (GBP) and is also available on the London Stock Exchange Bloomberg Ticker LEGR LN (USD). It will be made available on Borsa Italiana (EUR) in the coming weeks.
Derek Fulton CEO at First Trust Global Portfolios said: “With an increasing number of institutions harnessing blockchain technology and applications spanning a wide range of industries, we believe the efficiency, auditability and transparency provided by blockchain offers the potential for significant growth opportunities. The First Trust Indxx Innovative Transaction and Process UCITS ETF offers exposure to this growing investment class leveraging the liquidity and efficiency that a UCITS ETF structure provides”
Rahul Sen Sharma, Partner at Indxx said “Indxx is excited to have developed one of the world’s first indices to provide diversified exposure to the global blockchain space. We believe that blockchain is an exciting new technological innovation and our index research and development team is proud to have built an index that effectively targets it via a disciplined and transparent approach.”
BLOK’s Custodian and Administrator is BNYM, Ireland and the Auditor is Deloitte LLP, Ireland.