Independent investment management firm Invesco from the US has started a blockchain-based exchange traded fund (ETF) together with Elwood Asset Management on the London Stock Exchange (LSEG) as of March 11.

Elwood Asset Management is a UK investment firm specialising in providing institutional investors with exposure to digital assets and blockchain technology.

According to the Financial Times, the Invesco Elwood Global Blockchain UCITS ETF will initially offer exposure to 48 global companies in both developed and emerging markets that do or have the potential to participate in the blockchain ecosystem.

The fund is additionally designed to evolve with the growth in blockchain technology. CryptoGlobe has touted it to possibly be the world’s biggest such ETF.

The companies in the ETF were selected through a Elwood proprietary scoring system. Some of them reportedly include Apple, Intel, global IT company Advanced Micro Devices, Taiwan Semiconductor Manufacturing, and American financial market company CME Group.

Chris Mellor, Invesco’s Head of ETF equity product management in Europe, said, “The potential for blockchain to drive real earnings is huge, but it is often hidden within companies involved in other areas. This ETF offers investors access to companies with real earnings now, but with the added potential of blockchain-related, earnings not reflected in their share prices.”

The ETF scene is not without its teething issues. While Invesco has managed to successfully list a blockchain ETF in London, regulators back in the US currently still frown upon Bitcoin-based ETFs. TheCryptoSight noted last month that the Securities and Exchange Commission (SEC) has so far disapproved almost all Bitcoin ETF applications it has received.