The world’s largest asset manager, BlackRock, has launched a blockchain-ETF called the Blockchain and Tech ETF (IBLC).
The ETF is valued at $4.7 million. The fund does not own cryptocurrencies or digital assets directly, but tracks the performance of 41 cryptocurrency companies.
The fund includes Coinbase, Marathon Digital Holdings and Riot Blockchain Inc.
BlackRock also released a report in which the company said crypto-assets are still undervalued.
“We believe the broader opportunities – the use of blockchain technology for payments, contracts and consumption in general – are not yet priced in,” the company said.
BlackRock manages $10 trillion in assets.