More Blockchain and cryptocurrency investments arrive at the New York Stock Exchange (NYSE). Important investors operating in the NYSE will now be available to invest in Blockchain ETFs. It started to be traded on January the 30th, it is known as Innovation Shares NextGen Protocol ETFF (Koin), and focuses on crypto and blockchain companies.
Koin Blockchain ETF Available on NYSE
Koin started to be traded at 24.95 and has been fluctuating among 24.73 and 24.95. The ETF handled 46,274 in volume in just one day. The company explained that it is interested in adding important companies that are thinking now or in the future to invest in blockchain technology.
Matt Markiewicz, Innovation Shares’ managing director said:
“Our proprietary patent-pending AI based process allows us to better capture a full range of publicly traded companies that are developing, investing in and utilizing this new protocol. Blockchain is a highly innovative technology, and we’re applying an innovative approach to identifying the stocks leveraged to the theme”
In this way, the risks are reduced. If the Blockchain is not able to keep developing itself, then these important companies will survive without this technology. The higher risk is among new enterprises in the field. If an enterprise is new and linked to blockchain, the returns may be bigger in the middle and long term, but the outcome can also be in the other way.
The index behind KOIN was constructed in order to give investors exposure to global stocks participating in the blockchain sphere. The KOIN index focuses in cryptocurrency as a means of payment, mining enablers, solutions providers and adopters.
ETFs are a different way for investors to place their money in cryptocurrencies and blockchain technology. Koin has an underlying Index that tracks important enterprises with a minimum market value of $100 million dollars and a minimum average daily traded value greater or equal to $1 million dollars.
This is not the only ETF in the market, but investors can also search for Amplify Transformational Data Sharing ETF (BLOCK), Reality Shares Nasdaq NexGen Economy ETF (BLCN) and First Trust Indxx Innovative Transaction & Process ETF (LEGR).