in , ,

A New Blockchain ETF Is Up for SEC Approval

A New Blockchain ETF Is Up for SEC Approval

Horizons ETFs Management has filed for a new blockchain exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).

The SEC filing, dated Nov. 22, reveals that the Horizons Blockchain Index will invest at least 80 percent of its total assets in the common stock of the companies that are included in the fund. The index will invest in U.S. and foreign equity securities and companies that participate in “the adoption and integration” of blockchain technology.

The prospectus states:

“The [ETF] is an index fund that employs a ‘passive management’ investment strategy in seeking to provide investment results that, before fees and expenses, generally correspond to the performance of the Horizons Blockchain Index.”

Horizons ETFs Management will track the index using “a replication strategy”, the filing indicates – that is, it will invest in common stock in the index generally in proportion to its weighting. Further it hopes to accrue profits from companies “companies poised to grow due to blockchain.”

Earlier this month, two other ETF specialists also filed with the SEC for blockchain-related vehicles.

In its filing, Reality Shares Advisors revealed its plans to work with Nasdaq to offer securities for different blockchain companies. Amplify Trust ETF also filed for permission to invest and trade in blockchain startups.

Trading chart image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].

https://www.coindesk.com/a-new-blockchain-etf-is-up-for-sec-approval/

Leave a Reply

Your email address will not be published. Required fields are marked *

ICO Mania Has Calmed Down a Bit – And That’s Not So Bad

ICO Mania Has Calmed Down a Bit – And That’s Not So Bad

PR: Rentberry – Decentralized Home Rental Platform

PR: Rentberry – Decentralized Home Rental Platform