A blockchain index fund by Invesco has been approved by the Securities and Exchange Board of India (SEBI), LiveMint has reported. This is the first time that Indian investors will have the opportunity to invest in international companies that are part of the blockchain ecosystem. The Invesco CoinShares Global Blockchain ETF Fund of Fund (FoF) invests in companies "that participate or have the potential to participate in the blockchain or cryptocurrency ecosystem," the fund's investment thesis states. Significant holdings include US-based crypto-exchange CoinBase and the Taiwan Semiconductor Manufacturing Company. With the prospect of a blanket ban on crypto assets becoming more unlikely, crypto and blockchain seem to be gaining mainstream acceptance in India. SEBI's nod to the blockchain fund is indicative of a larger trend of crypto adoption by Indian investors and public authorities. What to know about the Invesco Global Blockchain Fund The Invesco CoinShares Global Blockchain ETF Fund of Fund (FoF) will invest primarily in another overseas run by Invesco, titled 'Invesco CoinShares Global Blockchain UCITS ETF'. Who is it ideal for? According to the Scheme Information Document published on the SEBI website, the scheme is very high risk and ideal for investors seeking long-term capital appreciation. What are the holdings? The top 10 holdings of the Invesco Global Blockchain UCITS ETF, on which the fund is based, are: Coinbase Global Inc - 4.83% GMO Internet Inc - 4.34% Kakao Corp - 4.32% Taiwan Semiconductor Manufacturing Company - 4.25% SBI Holdings Inc/Japan - 4.21% Monex Group Inc -…
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