While cryptocurrency exchange-traded funds (ETF) may still be having a difficult time finding their place in the U.S., they\u2019re moving along elsewhere. Invesco, an investment management company, launched the first blockchain ETF on the London Stock Exchange\u00a0on Monday. The launch was made possible through a partnership with Elwood Asset Management, a London-based investment company that focuses on digital assets. According to an announcement (in pdf) by Elwood, the new \u201cInvesco Elwood Global Blockchain UCITS ETF\u201d is meant to allow companies to generate \u201creal earnings\u201d through blockchain technology. Invesco\u2019s head of EMEA (Europe, Middle East and Africa) ETF Equity Product Management, Chris Mellor, explains, \u201cThe 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.\u201d The ETF includes 48 different companies that have some degree of exposure to blockchain innovation. Among these are Taiwan Semiconductor Manufacturing, Advanced Micro Devices (AMD), Microsoft and Intel. The fund carried a management fee of 0.65% per year and is designed to allow capitalize on the performance of the Elwood Blockchain Global Equity Index (BGEI) by \u201cphysically investing in the index constituents.\u201d Elwood CEO Bin Ren asserts, \u201cBlockchain has been around for a decade, but many people still see it just as the technology behind cryptocurrencies. The true potential, however, may extend far beyond that. We are beginning to see the technology being used by financial services companies in particular, but we expect greater application of blockchain technology across a wide range of industries. We believe the potential for blockchain to change the global economy is greatly underappreciated in today\u2019s market, much like the internet was in the beginning, when most people couldn\u2019t see past its usefulness for email.\u201d In terms of sector allocation, the Elwood BGEI contains 45% in IT, 23% in financials, 9% in communications services and 8% between materials and consumer discretionary sectors,\u201d according to the company. Geographically, allocations include the U.S. (39%), Japan (29%) and Taiwan (12%) as the top three regions.