Societe Generale’s wealth management and private bank Kleinwort Hambros launched an exchange-traded bond (ETN) for the blockchain industry, they plan to use the bond issue to raise The funds invest in some of the most promising and profitable startups in the blockchain industry.
Headquartered in London, Kleinwort Hambros has revealed that the exchange-traded bonds that will be launched this time will be listed in Luxembourg and are unsecured debt securities, trading on stock exchanges like exchange-traded funds (ETFs). The blockchain bond will initially cover 20 cross-industry stocks, including technology, shipping, oil and gas, and financial custody.
John Birdwood, portfolio manager for Kleinwort Hambros, said:
It is worth noting that although the exchange-traded bonds are open to existing and new customers, they set a minimum investment limit of £1,000 ($1,305). As of last year, Kleinwort Hambros, a centuries-old asset-managed private bank, managed assets worth 14.2 billion pounds ($18.52 billion) and had more than 900 employees.
Last month, investment management companies Invesco and Elwood Asset Management jointly launched a blockchain exchange-traded fund (ETF) on the London Stock Exchange. However, although several exchange-traded products of Bitcoin and other cryptocurrencies have now landed on the European market, the entire crypto community is still awaiting approval from the US Securities and Exchange Commission for Bitcoin exchange-traded funds.