BlackRock Lists Blockchain ETF Days After Similar Fidelity Launch

World’s largest asset manager highlights blockchain tech in new paper about “megatrends”


key takeaways

  • Leveraging blockchain technology for payments, contracts and consumption represents crypto’s “broader opportunity,” company says
  • Launch comes after Fidelity listed its crypto and metaverse ETFs last week

BlackRock has launched its blockchain ETF and labeled the segment a “megatrend” just days after competitor Fidelity brought to market a similar fund. 

The world’s largest asset manager, which manages roughly $10 trillion in assets, added the iShares Blockchain and Tech ETF (IBLC) to its megatrends product suite on Wednesday.

BlackRock’s thematic platform alone comprises 43 products with more than $50 billion in assets under management.

“The expansion of our megatrends line-up today reflects the power of the millennial and rise of the self-directed investor, whose buying habits have reshaped mainstream consumer behaviors, and in turn, the companies in which they invest,” Rachel Aguirre, BlackRock’s head of US iShares product, said in a statement.

IBLC, which the firm filed for in January, seeks exposure to global companies at the forefront of the “development, innovation and utilization” of blockchain and crypto technologies, according to the company. It does not invest in cryptocurrencies directly. 

The new blockchain fund launched about a week after Fidelity listed its Crypto Industry and Digital Payments ETF (FDIG) and its Metaverse ETF (FMET). Both funds carry an expense ratio of 39 basis points. 

The BlackRock product, which costs 47 basis points, currently has 34 holdings. Its largest allocations are to crypto exchange Coinbase, as well as bitcoin miners Marathon Digital and Riot Blockchain, which each account for more than 10% of the portfolio.

Other top holdings include Galaxy Digital, IBM, Hive Blockchain Technologies, Bitfarms and PayPal. 

In tandem with the ETF launch, BlackRock published a paper highlighting three areas experiencing significant permanent changes: new consumer, industrial renaissance and medical breakthroughs.

“While most of the market attention has focused on the price and volatility of cryptocurrencies themselves, we believe the broader opportunity — leveraging blockchain technology for payments, contracts and consumption broadly — has not yet been priced in,” the paper states. 

Cryptoassets offer financial inclusion to the unbanked and allow users to regain control over the $150 billion annual market for their personal data, according to the paper. BlackRock’s research also highlights central bank digital currencies (CBDCs), noting that 87 countries are currently exploring them.

A BlackRock spokesperson declined to comment further on its plans within the crypto space. 

Larry Fink, the company’s CEO, said in a shareholder letter last month that the war in Ukraine could accelerate the adoption of digital currency.

BlackRock and Fidelity participated in a funding round for peer-to-peer payments technology company Circle earlier this month.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Data publishing costs have historically been a bottleneck for rollups, and as more rollups launch, interoperability will continue to be a major challenge. Avail presents a potential solution to rollup fragmentation through its three products: Avail DA, Nexus, and Fusion, which together aim to unify the web3 experience.


The Bitcoin halving is a spectacle that only comes round once every four years


The SEC alleges that Justin Sun spent nearly 400 days in the US from 2017 to 2019


Short-term “sell the news” reactions could follow new BTC price peaks months from now, industry watchers say — but only if history repeats itself


While crypto fundraising remains well off its bull market highs, Q1 data shows capital is returning to the space


Billed as a better BRC-20 fungible token standard, Bitcoin Runes launches tomorrow


Bitcoin miners need to explore unconventional energy avenues or be buried by the financial realities created by this halving