China Set to Launch First Blockchain-Themed ETF

Shenzhen-based Penghua Fund has submitted an application to China Securities Regulatory Commission (CSRC) to list its blockchain exchange-traded fund (ETF), according to coindesk website.

The country’s financial watchdog said in a statement that the application was accepted on December 24.

The move is aimed at tracking the performance of stocks that are listed on Shenzhen exchange and have businesses in the blockchain industry.

If the application is approved by the market regulator, it will be China’s first blockchain-themed ETF open to public investors.

On the other hand, there are nearly seven blockchain-based ETFs operating in the country, such as Invesco-Elwood’s fund.

These ETFs have performed well in the period from January to May of 2019.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.