BlackRock Launching Its First Crypto-Linked ETF

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Today’s Cryptocurrency Headline

Asset management giant ($10 trillion AUM) BlackRock is launching its first blockchain-focused ETF, The iShares Blockchain and Tech ETF (IBLC). The ETF, which began trading on Wednesday, tracks companies involved in the “development, innovation and utilisation of blockchain and crypto technologies,” according to filings with the U.S. Securities and Exchange Commission. IBLC is the first crypto-themed fund from BlackRock, the world’s largest issuer of exchange-traded funds.

BingX’s Bitcoin Chart

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Digital asset investment products saw outflows cool last week, totalling US$7.2m, bringing total outflows in this 3-week run to US$219m. BTC is up 2.2% over the last 24 hours and has risen to an intraday high of $39,474.72. The largest cryptocurrency bounced back from support at $37,500 level on Wednesday alongside the traditional capital market, indicating the Buyers are buying the dip and the correlation between BTC and tech stocks has strengthened. For now, the Buyers need to push the BTC/USD pair above $40,000 to sustain the recovery phase.

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