Domestic investors can soon invest in a blockchain fund

Domestic mutual fund investors may soon have the opportunity to invest in a worldwide product that wagers on Blockchain-related enterprises. The Securities and Exchange Board of India has approved Invesco Mutual Fund’s application to launch a scheme to invest in the Invesco Elwood Global Blockchain Exchange Traded Fund.

The fund’s investment universe includes publicly traded global enterprises in developed and emerging nations that invest across the entire blockchain ecosystem. Blockchain is a network that enables businesses and individuals to store and transfer data in real time.

While blockchain is frequently connected with cryptocurrencies such as bitcoins, the two are not synonymous. Blockchain is the technology that permits cryptocurrencies to exist.

Over the last year, the Invesco Elwood Global Blockchain ETF has returned 82 percent. The cost ratio of the underlying fund is 65 basis points.

Blockchain technology can potentially disrupt established business models in various industries, according to fund managers, and companies in the industry might create substantial returns in the coming years.