Blackrock, the world’s largest asset manager, has announced the launch of its new iShares Blockchain and Tech ETF. Fund clients will be more exposed to cryptocurrency and blockchain-related firms.

The Blockchain Fund is launched by Blackrock (NYSE:)

Blackrock’s new iShares Blockchain & Tech ETF (IBLC) was announced Wednesday by the firm. This fund gives investors exposure to blockchain without having to invest in cryptocurrency directly.

The fund tracks U.S.-based and international firms involved in the “development, innovation, and utilization of blockchain and crypto technologies.” These include crypto exchanges, crypto miners, and firms using the underlying technologies.

According to Blackrock, the blockchain ETF is a “gradual entry point into the blockchain ecosystem.” The fund currently has over $4.7 million in net assets across 41 different holdings.

With 11.45% of total holdings, Coinbase (NASDAQ) is the biggest single holding, followed by Marathon Digital Holdings (11.19%), and Riot Blockchain(NASDAQ:) Inc. (10.41%).

Blackrock speaks out on Crypto

At a Wednesday panel event, Rachel Aguirre, BlackRock’s head of US iShares product, said that “the entire ecosystem around the blockchain has seen rapid growth these past two years.”

Aguirre explains that now is the time for investors to capture their stake in the industry, because “what we see is going to be exponential growth from here.”

To The Flipside

• BlackRock’s blockchain ETF launch comes just days after Fidelity introduced a comparable fund to the marketplace.

Why you should care

Blackrock says that as millennials begin to understand the value of blockchain technology, they will create greater financial inclusion and access in new ways.

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