TORONTO, March 23, 2018 (GLOBE NEWSWIRE) -- FT Portfolios Canada Co. ("First Trust Canada"), a privately owned company is pleased to announce the launch of the First Trust Indxx Innovative Transaction and Process ETF (TSX:BLCK).
The First Trust Indxx Innovative Transaction and Process ETF seeks to replicate, to the extent possible, the performance of an innovative transaction and process index. Currently, the First Trust Indxx Innovative Transaction and Process ETF seeks to replicate, to the extent possible, the performance of the Indxx Blockchain Index, net of expenses. The First Trust Indxx Innovative Transaction and Process ETF will obtain exposure to the Indxx Blockchain Index by investing in the First Trust Indxx Innovative Transaction & Process ETF, a US-listed index ETF which itself seeks to replicate or substantially replicate the performance of such index.
The index, which is created and administered by Indxx, LLC, seeks to track the performance of exchange-listed companies in various industries with their primary listing in developed or emerging market countries that are actively using, investing in, developing or have products that are poised to benefit from blockchain technology and/or the potential for increased efficiency that it provides to various business processes. The index seeks to include only companies that have devoted material resources to the use of blockchain technologies. To be included in the index, a company must meet strict eligibility criteria which include market capitalization and trading minimums. The index construction process sorts the companies into categories based on their exposure to blockchain technology and selects only those companies which are actively investing resources into products or services that use blockchain technology. The selected companies are equally weighted within their category and the index is capped at 100 companies.
Blockchain is the technology that underpins digital currencies, like bitcoin, but it has many more possible uses with the potential to move data of any kind swiftly and securely. “Although blockchain is still in its early stages, it promises to disrupt a variety of industries, potentially improving efficiency and security, while also reducing or removing the need for intermediaries,” said Karl Cheong, CFA, Head of Distribution at First Trust Canada. “This ETF enables investors to gain exposure to a diversified portfolio of companies that are involved in this cutting edge innovation,” Cheong said.
About First Trust
The First Trust companies are a well-respected global enterprise with a history in the U.S. market since 1991 and in Canada since 1996. As at February 28, 2018, First Trust Advisors L.P., the portfolio advisor for the First Trust Indxx Innovative Transaction and Process ETF, oversees more than US$122 billion total assets under supervision or management. First Trust is the enterprise name used for the various businesses conducted in Europe, Mexico, Canada and the U.S.
Further information about First Trust Canada's ETFs can be found at www.firsttrust.ca
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For further information: Media Contact: Karl Cheong FT Portfolios Canada Co., 40 King Street West, Suite 5102, Email: email@example.com, 1-877-622-5552