Asset manager Reality Shares announced a collaboration with Nasdaq to launch the Reality Shares Nasdaq Blockchain Economy Index. This smart-beta index will monitor the performance of global blockchain-oriented companies.
As reported earlier, Reality Shares is already working on an exchange-traded fund (ETF) to track the index and filed for approval on November 2. The Securities and Exchange Commission (SEC) filing reveals that blockchain companies tracked by the index would be committing material resources “to developing, researching, supporting, innovating or utilizing Blockchain technology for their proprietary use or for use by others.” Some of the uses are:
Applying blockchain for cross-border payments for transaction processing and verifications;
Safe storing of cloud-based digital data;
Supporting trusted transactions using data security and privacy.
Reality Shares and Nasdaq have used research data and their in-house Blockchain ScoreTM ranking system to create the index.
The blockchain companies tracked are active in various sectors and industries, as illustrated below:
Fredrik Voss, Nasdaq’s VP of blockchain innovation, said:
“The collaboration between Nasdaq and Reality Shares represents a tangible way to track the growth of an industry that may revolutionize the way commerce is conducted, and yet is still in its infancy.”
Reality Shares CEO Eric Ervin commented as follows:
“Reality Shares recognized the tremendous growth potential of blockchain technology, and subsequently teamed up with Nasdaq to identify what we believe to be the leading global companies deploying resources to develop blockchain applications.”
Ervin added blockchain companies have the potential to transform their industries:
“As these new applications are deployed, we believe these companies will most likely become disrupters in their industries, with potential to profit at the expense of laggard companies that do not deploy blockchain applications.”
As of today, the SEC has yet to come up with a decision regarding the Reality Shares Nasdaq Blockchain Economy ETF. The details of the preliminary prospectus can still undergo modifications.
Reality Shares is known in the industry as an asset management company, ETF issuer and index provider. The company’s mission is to support the greatest investing ideas.
We reported that Amplify ETFs also had plans to create a blockchain-based ETF. It submitted a filing to the SEC last week.