By Landon Manning
By Landon Manning
A brand new exchange-traded fund (ETF) is up for regulatory approval in China, planning to trace the efficiency of a wide range of blockchain-related firms.
The China Securities Regulatory Fee (CSRC) disclosed on December 24, 2019, that Penghua Fund, an asset administration firm primarily based in Shenzhen, China, has formally filed an software to start providing traders an ETF product pinned to the efficiency of firms affiliated in numerous methods with the blockchain business. The gathering of shares themselves has been tracked by certainly one of China’s largest inventory exchanges, additionally primarily based within the metropolis of Shenzhen.
As Shanghai Securities Information (SSN), a Chinese language finance-oriented information outlet reported on December 26, 2019, Penghua Fund’s product would be the “first actual blockchain-themed fund in China” if the CSRC decides to approve its petition. The paper additionally famous that this ETF will observe firms with a various vary of presences within the blockchain area, together with not solely blockchain-based companies and novel functions of distributed ledger know-how, but additionally numerous…