June 18, 2024

China Stock Exchange Launches Blockchain Companies Index

China Stock Exchange Launches Blockchain Companies Index

Stock Exchange of China's Technology Capital – Shenzhen Stock Exchange (SSE) – released an indextracking the performance of 50 blockchain companies.

On December 24, SSE announced the creation of the SSE IndexBlockchain 50, which tracks the activities of blockchain companies. The new indexed investment vehicle is based on the market value of publicly traded and publicly traded shares.

Companies are ranked using a net indexprice and full return index. Before launching the new tool, SSE initiated a check on the real use of blockchain technology by companies, screening out companies using blockchain exclusively for advertising purposes.

The fourth largest stock exchange in Asia, with a market capitalization of $ 3.12 trillion, will update the blockchain companies index twice a year, in June and December.

Recall that recently, the Chinese authorities confiscated about 7,000 ASIC miners illegally consuming electricity.