Horizons launches blockchain ETF

Horizons ETFs Management (Canada) Inc. has launched the Horizons Blockchain Technology & Hardware Index ETF (BKCH).

BKCH aims to provide investors with diversified exposure to companies involved in blockchain, said Horizons in a release. Blockchain is a digital ledger that logs and tracks information such as transactions or assets.

The ETF will replicate as much as possible the performance of the Solactive Blockchain Technology & Hardware Index, said Horizons. The index focuses on three subsectors of the technology industry:

• companies developing blockchain technology;
• companies focused on the hardware needed for blockchain technology mining (semiconductors); and
• relevant hardware and services supporting blockchain technology, including memory and storage producers and services including large-scale mining on a commercial level.

Read: How blockchain offers opportunities for investors

BKCH will be substantially exposed to U.S.-listed securities and securities in other countries. It will not be directly exposed to physical crypto-assets and/or cryptocurrencies such as Bitcoin or initial coin offerings. BKCH will also not be directly involved in cryptocurrency mining, added Horizons in the release.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.