China will launch the country's first ETF blockchain
Shanghai Securities News reports that the Chinese Securities Commission (CSRC) has received an application for registration of ETF, an exchange-traded fund whose underlying asset is blockchain project securities. An application for registration of Penghua Shenzhen Stocks Blockchain ETF has been submitted by Penghua Fund, an asset management company, registered in the Chinese city of Shenzhen. The stock exchange from this city on December 24, 2019, launched the sale of assets of 50 blockchain companies that have the largest capitalization. The stock index is called “Blockchain 50”. If the Chinese Securities Commission approves the application, Penghua Shenzhen will become the first Chinese blockchain stock exchange fund for investors.