Home Blockchain Societe Generale-owned private bank unveils an actively managed Blockchain focussed ETN

Societe Generale-owned private bank unveils an actively managed Blockchain focussed ETN

Earlier on Monday, 08 April, Kleinwort Hambros, a Societe Generale-owned private bank and wealth manager, announced the launch of an actively managed exchange-traded note (ETN) targeting the blockchain sector.

The news was announced by the London-based bank on Monday, in which it said that its Luxembourg-listed ETN will invest in firms that could “profit most” from the development and increasing uptake of the revolutionary blockchain technology.

ETNs are unsecured debt securities resembling exchange-traded funds (ETFs), that are traded on a stock exchange.

As per reports, initially, the blockchain note will have 20 stocks diversified across areas including oil, gas, technology, shipping, industrials, and custody.

According to John Birdwood, portfolio manager of Kleinwort Hambros:

“We have seen increasing interest from clients in the area of blockchain and we are very excited to be able to cater to this demand with the launch of our first blockchain note.”

Birdwood further added, “thanks to the products, customers will receive diversified exposure to the promising growth prospects blockchain technology offers, while maintaining the rigorous active management.”

The London-based bank also mentioned that ETN will be only available for its existing and new clients, with £1,000 ($1,305) as a minimum investment.

According to the figures posted by the centuries-old bank for the previous year, it has nearly 900 employees, with assets under management of £14.2 billion ($18.52 billion).

Significantly even after several such announcements the crypto community’s long-awaited demand for bitcoin ETF still awaits a decision from the Securities and Exchange Commission in the U.S.

Although, in the meantime, various exchange-traded products (ETPs) for bitcoin and other cryptos have gone live for trading in Europe.

 

mm
Safdarali Rizvi
Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities drives him to enlighten the entire Geekymint team with exclusive and intriguing news. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

9 of the best Rainiertamayo alternatives to watch unlimited online free movies and tv shows

Movies and tv shows have entertained people since the 1960s. Earlier to that people used to go to fair and circus to...

Cisco 300-435 Exam and Practice Tests: Get Closer to CCNP Enterprise Certification

IT has become one of the leading fields in the world and this is large because its applications can be found in...

9 of the best Mobdro alternatives for watching live tv in 2020

Modbro was one of the growing movies and live tv streaming sites with free unlimited content. Mobdro had its app on the...

The Best Torrent Search Engine Sites To Find Safe Torrents (100% Working)

Torrent search engines are not your regular web search engines like Bing or Google. A regular search engine like Google is usually...

The Best Live Cricket TV Sites You Just Cannot Miss In 2020

Cricket is as they say a gentleman’s game originated in England and you will be amazed to know that the first game...

Popular

ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an Android Device directly through play store....

9 best ThopTV alternatives for free streaming and Live TV

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Cyberflix TV 3.2.0 – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC & Firestick

About CyberFlix TV CyberFlix TV is an online streaming app on which you can watch free movies and TV Shows. The app has been shut...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Stock market expert Marc Faber makes his first investment in BTC

In what could be a significant uplift for the most famous digital asset, Bitcoin (BTC), earlier in the week, one certain Marc Faber announced...