| Work Detail |
The global investment giant has launched its iShares Energy Storage and Hydrogen exchange-traded fund on the Amsterdam Stock Exchange. BlackRocks fund will track the Stoxx Global Energy Storage and Hydrogen Index. BlackRock, the powerful New York-based investment firm, has recognized the potential of energy storage by introducing an exchange-traded fund (ETF) focused on storage- and hydrogen-related stocks. ETFs are collections of stocks, often thematic, that are grouped together for investors to subscribe to in order to avoid the risk involved in buying shares in individual companies. BlackRocks new iShares Energy Storage and Hydrogen fund will also track the Stoxx Global Energy Storage and Hydrogen Index, managed by Stoxx, majority-owned by Deutsche Börse Group and specialising in pooled funds. With BlackRock’s ETF listed on Amsterdam’s Euronext exchange – and with an annual membership fee of 0.5% of the amount invested – the US investment house said the three largest companies in the Stoxx index that its ETF will track are Chinese battery giant CATL; US industrial gases and chemicals supplier Air Products & Chemicals, Inc; and Japanese chemicals company Asahi Kasei Corp. These stocks accounted for 8.2%, 7.7% and 7% of the Stoxx index at the time of the BlackRock ETF’s launch, the US investor announced yesterday. Reporting the launch of BlackRocks product, ETF-focused financial website etf.com said CATL could help keep the price of lithium, a key battery material, low after announcing on Monday - alongside Chinese lithium ferrophosphate cathode material supplier Lopal Tech Co - that it would resume lithium refining after a five-month halt. |
