© Reuters. 2 Blockchain ETFs to Consider Buying in Q2
Blockchain technology applications go well beyond cryptocurrency. With the potential to disrupt capital markets, cloud computing and the clean energy industry, blockchain is expected to lead technological innovations in the coming months. Consequently, blockchain ETFs Siren Nasdaq NexGen Economy (BLCN) and First Trust Indxx Innovative Transaction & Process (LEGR) are expected to deliver solid returns this year. So, let’s take a closer look at these funds.Blockchain technology, which was designed initially to facilitate the storage and transfer of cryptocurrencies, is revolutionizing virtually every industry. The decentralized database structure is being widely adopted in the banking and financial services industry and is viewed as a game changer in the real estate, advertising, and cloud computing industries. Cryptocurrencies are increasingly being accepted as a medium of exchange worldwide, with several multi-billion-dollar companies now accepting payments in Bitcoins.
The rising popularity of non-fungible tokens (NFTs) is also contributing to the decentralized technology’s growth. NFTs are digital assets that represent a wide range of unique tangible and intangible items, from collectible sports cards to virtual real estate and even digital sneakers. The global blockchain technology market is expected to grow at a CAGR of 43% over the next six years to hit $30.70 billion by 2027.
As companies focus on innovation to boost profitability in the wake of pandemic-driven losses, blockchain technology development companies are expected to witness a significant uptick in demand over the near term. Given this backdrop, we think blockchain ETFs, such as Siren Nasdaq NexGen Economy ETF (BLCN) and First Trust Indxx Innovative Transaction & Process ETF (LEGR) should prove to be wise investment bets now.
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