July 05th, 2024: Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx Blockchain Ecosystem Index to Israel-based, Meitav Tachlit Mutual Funds Ltd. as the underlying benchmark for the Indxx Blockchain Ecosystem ‘(4D)’ TTF (Tel Aviv: 5138623), which began trading on the Tel Aviv Stock Exchange yesterday.
The Indxx Blockchain Ecosystem Index follows a rules-based approach to capture companies developing and selling Blockchain-based technology solutions. It also includes companies that are powering the global decentralized financial economy along with the companies that manage or develop digital assets.
Rahul Sen Sharma, President, and Co-CEO at Indxx said, “Blockchain technology is experiencing widespread adoption across a diverse range of industries, including insurance, finance, healthcare and supply chain management. The market size is estimated to grow at a CAGR of 66.2% between 2022 and 2027, reaching $94 billion in 2027.1 We firmly believe that blockchain represents the forefront of next-generation technology, poised for rapid expansion and integration into every facet of life and business. We are excited to partner with Meitav Tachlit Mutual Funds to introduce this innovative product that tracks a long-term investment trend to the Israeli market.”
Vaibhav Agarwal, Chief Product Officer at Indxx added, “Our Indxx Blockchain Ecosystem Index employs a rigorous research approach to identify companies generating over 50% of their revenue from activities related to blockchain such as cryptocurrency trading and exchanges, cryptocurrency mining, blockchain technology, and multi-type business and personal systems. This method ensures a comprehensive and accurate representation of the dynamic blockchain market. We believe there is substantial growth potential in this market due to the transparency, security, and efficiency benefits offered by blockchain technology. We are delighted to introduce this cutting-edge strategy to the Israeli market in partnership with Meitav Tachlit Mutual Funds.”
As July 03, 2024, the index has 18 constituents. The index has been backtested to March 15, 2019, and has a live calculation date of November 16, 2021.