iShares Launches Crypto Equity ETF
The largest issuer in the world enters a competitive thematic space.
iShares debuted the latest ETF in the U.S. market focusing on blockchain and crypto companies, adding another player in an already-packed theme.
The iShares Blockchain and Tech ETF (IBLC) debuted on the NYSE Arca Wednesday with an expense ratio of 0.47%.
IBLC tracks a joint index between FactSet and the NYSE that holds companies deemed to be involved in the use and development of blockchain technologies with at least $100 million in market capitalization.
The market-cap-weighted index heavily favors Coinbase, Marathon Digital Holdings and Riot Blockchain. Those three companies comprise a third of the 35-stock index’s weight.
(Use our stock finder tool to find an ETF’s allocation to a certain stock.)
iShares’ offering will compete with at least seven other funds in providing exposure to the crypto equity industry, ranging from prominent larger issuers such as Global X, First Trust and VanEck to smaller thematic issuers like Volt and Defiance.
Fidelity remains the cost leader in the space with its Fidelity Crypto Industry and Digital Payments ETF (FDIG), which charges 8 basis points less.
IBLC and FDIG share six companies in their top 10 holdings, amounting to 49% of IBLC’s total weight and 28% of FDIG.
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