First Blockchain ETF May Be Launched In China Soon

by in Blockchain News

First Blockchain ETF May Be Launched In China

China Securities Regulatory Commission (CSRC), that watches over the entire nation’s monetary activities, freshly receives a formal request to register an Exchange Traded Fund (ETF). This ETF will trace down funds linked with blockchain as primary possessions.

Related: China's "Digital Yuan" might launch in 2020!

This request lodged in by the Shenzhen rooted wealth handling company called the Penghua Fund and as per regulator’s revelation, this request was obtained in the commission on the 24th of December.

The core objective of the ETF would be to trace down as well as review the progress of Shenzhen-registered public funds which are traded in the field of Blockchain.

The 26th of December, it was stated by Shanghai Security News that if this request can get one last acceptance by the CSRC then it will be China’s very first ETF for public stockholder solely based on Blockchain.

This request got registered by the Penghua Fund at a similar time when the Shenzhen Stock Exchange launched a Blockchain 50 index. This catalog contains 50 funds that are filed on the exchange platform and stepped into the blockchain world.

On December 24th Shenzhen Exchange also stated that this index will help to trace down all those individuals who take part in numerous activities across the Blockchain world. They also stated that it would choose the top 50 through the stock's total funding in the marketplace.

The present index involves a range of different software firms. These include banks like the Ping An Bank and also firms based on the internet that takes part in the mining of cryptocurrencies like Wholeasy, which financed approximately $80 million on bitcoin miners in the year 2018.