Invesco Mutual Fund files documents with SEBI for blockchain fund

Invesco Mutual Fund planning to launch an open ended fund of fund scheme investing in Invesco Elwood Global Blockchain UCITS ETF. If it gets approval, then this would be the first fund that will give an option to Indian investors to dabble in blockchain concept.

In a scheme information document (SID) filed with market regulator SEBI, the fund house said the scheme will generate returns by investing predominantly in units of Invesco Elwood Global Blockchain UCITS ETF, an overseas exchange traded fund, which seeks to achieve the performance of the Elwood Blockchain Global Equity Index less fees, expenses and transaction costs.

Exposure to global firms

The Elwood Blockchain Global Equity Index offers exposure to global companies in developed and emerging markets that participate or have the potential to participate in the blockchain ecosystem.

The top 10 holdings of Elwood Global Blockchain UCITS ETF is Bitfarms (Canada), Hive Blockchain Technologies, Coinbase Global Inc, SBI Holdings Inc, Monex Group Inc, Taiwan Semiconductor Manufacturing Co, GMO Internet Inc, Kakao Corp, MicroStrategy Inc and Aker ASA.

“The Underlying Fund (through the Scheme) is also meant for the investors who are looking to tap growth potential of companies participating in the blockchain ecosystem and diversify portfolio by investing beyond home country and benefit from businesses not listed in India,” the SID said.

The US with 30.67 weightage top the weightage in the index followed by Japan 25.73 per cent, Canada 13.25 per cent, Taiwan 8.98 per cent and South Korea 7.75 per cent. The fund house targets ₹10 crore through the issue and the minimum application amount is ₹1,000.