Bloomberg Law
April 27, 2022, 2:10 PM

BlackRock’s First Crypto-Linked ETF Debuts in Lackluster Market

Katie Greifeld
Katie Greifeld
Bloomberg News

BlackRock Inc. is launching its debut blockchain-focused ETF as record cash exits cryptocurrency funds.

The iShares Blockchain and Tech ETF (ticker IBLC), which begins trading Wednesday, tracks companies involved in the “development, innovation, and utilization of blockchain and crypto technologies”, according to a filing with the U.S. Securities and Exchange Commission. IBLC is the first crypto-themed fund for BlackRock, the world’s largest exchange-traded fund issuer.

“What we hope investors will do is step in and think about the next five years, the next 10 years,” said Gargi Chaudhuri, head of BlackRock Inc.’s iShares investment strategy, Americas, at an ...