Private Bank Kleinwort Hambros Launches Blockchain Exchange-Traded Note

Private bank Kleinwort Hambros has launched an exchange-traded note made up of blockchain companies.

Private bank Kleinwort Hambros launched an exchange-traded note (ETN) made up of blockchain-related companies, financial news outlet Finextra reported on April 8.

Kleinwort Hambros is owned by Societe Generale, acting as their private wealth management division in the United Kingdom. Societe Generale itself is a multinational investment bank headquartered in Paris, with total assets of around 1.3 trillion euros ($1.4 trillion) in 2018.

Per the report, the new derivative is available for a minimum investment of £1,000 (equivalent to about $1,300) and has been listed in Luxemburg. The stocks reportedly include 20 companies which are expected to profit from blockchain and distributed ledger technology (DLT) adoption.

More precisely, the companies are expected to earn revenue through the sale of relevant…

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2019-04-08 14:03:00

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Written by Cointelegraph

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