Horizons ETFs Management is the latest exchange traded funds issuer to reveal plans for a blockchain ETF.
“A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central record keeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically,” according to Investopedia.
The Horizons Blockchain ETF would track the Horizons Blockchain Index.
“The Horizons Blockchain Index is a proprietary Index that primarily invests in U.S. and foreign equity securities and seeks to invest in companies that stand to benefit from the growth of blockchain technology,” according to a Horizons filing with the Securities and Exchange Commission (SEC). “The emergence and adoption of blockchain technology, a form of distributed ledger technology, will likely change how business transactions and operations take place, paving the way for unprecedented levels of growth and innovation.”
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