A third blockchain exchange traded fund debuted on Thursday. The first two are already finding quick success. The Amplify Transformational Data Sharing ETF (NYSEARCA: BLOK) and the Reality Shares Nasdaq NexGen Economy ETF (NASDAQ: BLCN) already have more than $250 million in assets under management combined.
It took BLOK and BLCN less than two weeks of trading to reached that combined milestone. 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.
BLCN tracks the Reality Shares Nasdaq Blockchain Economy Index, according to a SEC exemptive relief filing. The underlying index includes companies that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their proprietary use or for use by others.
Entering Friday’s trading session, BLOK had nearly $165 million in assets under management while investors had poured more than $86 million into the passively managed BLCN.