French quantitative asset manager TOBAM has listed a new actively managed UCITS ETF on Euronext Paris.
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By ETFWorld.co.uk
Yves Choueifaty, Chairman and Founder of TOBAM
The fund, launched in partnership with Natixis Corporate & Investment Banking (CIB), offers a regulated equity-based strategy designed to capture Bitcoin’s adoption.
The TOBAM Global Blockchain Equity UCITS ETF (Ticker: BBLOK; ISIN: LU3142893745) provides a new share class for a strategy first launched nearly five years ago. The ETF is listed in euros and has a Total Expense Ratio (TER) of 0.91%.
ETF Key Specifications
| Item | Detail |
|---|---|
| ETF Name | TOBAM Global Blockchain Equity UCITS ETF |
| Listing Venue | Euronext |
| Ticker | BBLOK |
| ISIN | LU3142893745 |
| TER (Ongoing Charge) | 0.91% |
| ETF Type | Active, UCITS-compliant |
| Investment Focus | Global equities structurally correlated to Bitcoin |
A Focused Strategy Within Blockchain
The ETF aims to provide economic exposure to Bitcoin’s adoption through a portfolio of listed equities. According to TOBAM, the strategy is distinct because it intentionally selects companies whose performance shows a structural correlation to Bitcoin, rather than investing broadly across the entire blockchain technology ecosystem.
The portfolio construction uses a proprietary optimization. It aims to minimize tracking error to Bitcoin while adhering to UCITS diversification rules, which restrict holding more than 10% of assets in a single issuer.
“Since its launch, our Global Blockchain Equity strategy has offered investors a unique way to gain exposure to Bitcoin’s performance drivers within a fully regulated UCITS framework,” says Yves Choueifaty, Chairman and Founder of TOBAM. “Launching this ETF with Natixis CIB is a natural next step, making the strategy accessible to a broader investor base that values the liquidity and transparency of an exchange-traded format.”
“Investor demand for regulated access to the digital-asset universe continues to grow. This new vehicle combines TOBAM’s recognised expertise in crypto assets with the operational efficiency and transparency inherent to the ETF format.”
Extending Access to ETF Platforms
This listing creates an ETF share class for TOBAM’s existing Global Blockchain Equity strategy. An open-ended UCITS fund version has been available for over two years through life-insurance and advisory channels. The ETF format targets institutional investors and platforms that favor exchange-listed, transparent products.
“We are delighted to partner with TOBAM on the launch of this active ETF, for which Natixis CIB will act as the lead market maker,” says Olivier Lasserre, Managing Director, Global Head of Synthetic PB, synthetic Indexation sales Natixis CIB.
“Thanks to our expertise in active management strategies, this launch illustrates our ability to support our clients in their transition towards active ETFs. We thus offer an innovative solution in the form of a dynamic index which, beyond its listing, opens up numerous opportunities in terms of structuring and distribution,” says Romuald Orange, MD, Global Head of Proprietary Client Interface, Natixis CIB.
Performance and Market Context
The press release states the strategy delivered a net annualized return of 57% from its September 2023 launch through December 30, 2025, outperforming its international equities benchmark.
The launch occurs amid sustained institutional interest in Bitcoin-access products. Other firms have launched blockchain equity ETFs, though their approaches vary. Some funds mix Bitcoin-correlated companies with firms developing enterprise blockchain applications, which can lead to different performance drivers.
TOBAM presents this ETF as a bridge between digital asset themes and conventional equity portfolios.
Source: ETFWorld.co.uk
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