Amplify ETFs on Wednesday launched an ETF that invests in publicly-traded global companies leading the research, investment and revenue creation related to blockchain-based and other distributed ledger technologies.
The Amplify Transformational Data Sharing ETF (NYSE Arca: BLOK) is an actively-managed ETF that comes with an expense ratio of 0.70%.
A blockchain is a decentralized database shared across all users that facilitates the process of recording transactions and tracking assets across a business network. This foundational technology is expected to pave the way for significant disruptions across many industries.
BLOK utilizes an actively-managed approach to investing in the fast developing world of blockchain-based technology, allowing the fund’s portfolio managers to respond in real-time to valuations, company fundamentals and announcements that may impact the blockchain marketplace.
Christian Magoon, CEO of Amplify ETFs, said they were excited to offer BLOK as a professionally-selected, convenient and responsive way to invest in a basket of the leading companies engaged in advancing blockchain-based technology.
“BLOK may offer growth-oriented investors an attractive way to gain diversified exposure to a new technology whose impact has been compared to that of the internet,” Magoon said.
BLOK will be co-managed by the Fund’s sub-advisers, Toroso Investments, LLC and CSAT Investments Advisory LP.
The launch of BLOK is consistent with Amplify’s value proposition to bring first-to-market products across growth and income segments.
For more information on new fund products, visit our new ETFs category.