BlackRock launches an actively managed fintech ETF
BlackRock (NYSE:BLK), the world’s largest asset manager, has expanded its actively managed exchange traded fund lineup with the launch of a new entry in the fintech space, the BlackRock Future Financial and Technology ETF (BPAY).
BPAY looks to offer the investment community exposure to stocks that are driving disruption within the financial services sector of the economy. The new fund has an expense ratio of 0.70%.
Moreover, BPAY consists of 38 specific holdings, led by Charles Schwab (SCHW) and SVB Financial Group (SIVB). These names constitute more than 11% of the fund’s portfolio. SCHW represents 5.87% of BPAY’s net assets and SIVB totals 5.37% of its holding.
With regards to the funds launch, Vasco Moreno, Lead Portfolio Manager of BPAY stated: “In the United States alone, the use of fintech increased by 30% during the pandemic.”
“Through BPAY, investors are granted direct access to global companies that are driving the next leg of growth and leading the digital revolution in areas across the entire value chain such as payment systems, banking, investments, lending, and insurance and software.”
BPAY has become BlackRock’s sixth actively managed ETF as the firm expands its Megatrends platform. See greater details and information on BPAY.