New blockchain ETF application pending SEC approval

nBankruptcy: According to the SEC’s November 22 disclosure, Horizons Blockchain Index invests 80% of its total assets in the common stock of companies included in the fund. The index fund will also invest in US and overseas equity securities as well as companies involved in “adopting and integrating” blockchain technology.n
nTranslation: Clovern
Horizons ETFs Management has submitted a new blockchain exchange-traded fund (ETF) application to the Securities and Exchange Commission (SEC).n
The SEC filing revealed on November 22 that the Horizons Blockchain Index invests 80% of its total assets in the common stock of companies included in the fund. The index fund will also invest in US and overseas equity securities as well as companies involved in “adopting and integrating” blockchain technology.n
The prospectus stated:n
n”The ETF is an index fund that uses a ‘passively managed’ investment strategy to provide investment results before fees and expenses appear, often in line with the performance of the Horizons blockchain index.”n
nThe paper notes that Horizons ETFs Management uses a “replication strategy” to track the index, which means that the company will base its weight on the common stock of companies in the index. In addition, they also want to profit from these pooled blockchain companies.n
Earlier this month, two other ETF specialized companies also submitted the listing application for the relevant blockchain investment vehicles to the U.S. Securities and Exchange Commission.n
Reality Shares Advisors disclosed in the application documents that it plans to work with NASDAQ to provide securities services to different blockchain companies. The Amplify Trust ETF also applied to the SEC for approval of its investment in blockchain start-ups.n

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