China May Soon Have Its First Blockchain Exchange-Traded Fund

China Securities Regulatory Commission has recently received an application for listing a blockchain-based exchange-traded fund.

AccessTimeIconDec 30, 2019 at 6:00 a.m. UTC
Updated Sep 13, 2021 at 11:53 a.m. UTC

China Securities Regulatory Commission (CSRC), the country's financial watchdog, has recently received an application for listing an exchange-traded fund (ETF) that will track blockchain-related stocks as underlying assets.

Dubbed Penghua Shenzhen Stocks Blockchain ETF, the application was filed by Shenzhen-based asset management firm Penghua Fund and was accepted by the CSRC on Dec. 24, according to the regulator's disclosure.

The proposed ETF aims to track and reflect the performance of Shenzhen-listed public stocks that have businesses in the blockchain industry.

Based on a report from Shanghai Securities News on Thursday, if the application received final approval by the CSRC it would be the country's first completely blockchain-themed ETF open to public investors.

The application was received at the same time the Shenzhen Stock Exchange rolled out a Blockchain 50 Index comprised of 50 stocks listed on the exchange that have entered the blockchain space.

The Shenzhen exchange said in an announcement on Dec. 24 the index tracks those that are involved in different aspects of the blockchain ecosystem and selects the top 50 by market capitalization.

The current index list includes software companies, banks including Ping An Bank, as well as internet companies that entered cryptocurrency mining such as Wholeasy, which invested $80 million in bitcoin miners in 2018.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC