Kleinwort Hambros, the private Bank and asset Manager Societe Generale, has launched an actively managed exchange-traded bond (ETN) that focuses on the sector of the blockchain.
The Bank of London announced on Monday, saying that his ETN, listed in Luxembourg, will invest in companies that would “extract the most profit” from the development and increasing use of technology of the blockchain. ETN is an unsecured debt securities, which, like exchange traded funds (ETF), traded on the stock exchange.
Initially, the blockchain will have 20 diversified stocks, including technology, shipping, oil and gas, warehousing and industry.
Manager portfolio Hambros Kleinwort John Birdwood said:
“We see growing interest from clients to the blockchain, and we are very pleased to be able to meet this demand with the launch of our first blockchain note”.
The product will provide its clients “diverse exposure with promising growth prospects offered by blockchain technologies, while maintaining strict active management,” said Birdwood.
It is worth noting that ETN will only be available to existing and new customers Hambros Kleinwort with a minimum investment of £ 1000 ($ 1305).
The centuries-old Bank has assets under management 14.2 billion pounds (of 18.52 billion) and more than 900 employees as of last year, according to his own data.
In similar news company investment management Invesco Asset Management and Elwood jointly launched an exchange traded Fund (ETF) on the London stock exchange last month.
However, the crypto community continues to wait for the bitcoin ETF is still awaiting the decision of the Commission on securities and stock exchanges of the USA. However, some exchange-traded products (ETP) for bitcoins and other cryptographic tools began to be traded in Europe.
The message Bank from Societe Generale launches its blockchain ETN appeared first on crypto.by.