Investment management firm Invesco is launching a blockchain exchange-traded fund (ETF) on the London Stock Exchange. Elwood announced the news, saying the ETF is designed to target companies with the potential to generate “real earnings” from blockchain technology.
Gary Buxton, Head of EMEA ETFs at Invesco, commented, “Invesco has earned a reputation for being able to identify genuine opportunities with sound investment potential, and finding the most suitable ways to bring them to market. We believe the potential for blockchain technology to disrupt the status quo of companies in virtually every industry makes for a strong long-term investment case. This new fund offers exposure with the added benefit of Elwood’s expertise along with the attractions of our ETF structure.”
Bin Ren, CEO of Elwood, said “Blockchain has been around for a decade, but many people still see it just as the technology behind cryptocurrencies. The true potential, however, may extend far beyond that. We are beginning to see the technology being used by financial services companies in particular, but we expect greater application of blockchain technology across a wide range of industries. We believe the potential for blockchain to change the global economy is greatly underappreciated in today’s market, much like the internet was in the beginning, when most people couldn’t see past its usefulness for email.”
Duncan is a technology professional with over 20 years experience of working in various IT roles. He has a interest in cyber security, and has a wide range of other skills in radio, electronics and telecommunications.