The China Securities Regulatory Commission (CSRC) has received an application for listing of an exchange-traded fund (ETF), which uses the blockchain stock index as its underlying asset, as reported by Shanghai Securities News.
An application for the Penghua Shenzhen Stocks Blockchain ETF has been submitted by the Shenzhen-based asset management company Penghua Fund.
On December 24, the Shenzhen Stock Exchange launched the Blockchain 50 index. It includes shares of the 50 largest blockchain companies listed on the stock exchange by capitalization.
If approved by the regulator, the fund will become the country’s first thematic blockchain ETF, open to state investors.
Recall that after an October statement of Xi Jinping regarding the importance of introducing distributed ledger technology, the price of shares of leading Chinese blockchain companies jumped by an average of 10%, and some by 80%.
However, according to media reports, only one in ten of the blockchain companies registered in China uses DLT technology.