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Fate of First BlockchainBased ETF in China is Being Decided

CSRC, the Chinese financial regulator, got a request for listing an ETF, which is seen to trail blockchain stocks, as it became known due to the CoinDesk news. Photo Pixabay The request was completed by the Penghua Fund Management Co. and directed to the China Securities Regulatory Commission CSRC on Dec. 24th. It was presupposed, that the blockchain ETF would track the moves of the blockchainbased companies which are traded on the SSE. In case this application gets the CSRC approval it would be launched the first ETF blockchain available to a wide range of Chinese investors. Recall, earlier, the SSE brought  included those companies, which were present on the SSE for more than six months. Moreover, the companies should not have troubles with regulators nor violations in the financial field It was also carefully checked whether the company really uses blockchain. The index is weighted by the market value of shares in free circulation and will be updated twice a year.