Global X comes up with three exchange-traded funds
Mirae Asset Global Investments, South Korea’s foremost asset management company, has come up with three exchange-traded funds (ETFs) in New York, including one that tracks blockchain-related stocks.
The Seoul-based company said on July 15 that its U.S. subsidiary Global X ETFs had launched three ETFs on Nosdaq _ the Global X Blockchain ETF (BKCH), the Global X AgTech & Food Innovation ETF (KROP), and the Global X Hydrogen ETF (HYDR).
In particular, the BKCH seeks to invest in corporations positioned to benefit from the increased adoption of blockchain technologies, according to Mirae Asset.
It is designed to track the Solactive Blockchain Index, which includes such corporations as Digital Asset Mining, Blockchain & Digital Asset Transactions, Blockchain Applications, Blockchain & Digital Asset Hardware, and Blockchain & Digital Asset Integration.
The ETF is the first of its kind with the blockchain title.
This is not the first time for Mirae Asset to roll out innovative products.
Track record of innovation
Earlier this April, the firm’s Canadian affiliate Horizons ETFs introduced the world’s first ETF that bets on the plunge of Bitcoin (see the Korea News Plus article on April 17, 2021).
“The thematic landscape is constantly evolving, as technological innovation proceeds at a torrid pace, consumer and demographic trends continue to morph in the wake of the pandemic, and a changing relationship with the planet places a great emphasis on sustainability,” Global X research head Jay Jacobs said.
“With these latest launches, we’re continuing to expand our industry-leading thematic offering to include three additional emerging and powerful themes: the accelerating adoption of blockchain technology and digital assets, advancements in agriculture to sustainably meet rising food demand, and the emergence of hydrogen as a clean fuel.”
Over the past several years, ETFs have gained popularity across the globe thanks to their stellar performances.
They track an index as compared to index funds. They are regarded as low-risk investments thanks to their diversification, low management fees, and high price visibility.
KROP, HYDR, and BKCH each have a management fee of 0.5 percent.