An exchange-traded fund focused on companies that are working with blockchain or are eyeing applications of the tech has launched today.

Innovation Shares LLC's NextGen Protocol ETF (ticker symbol: KOIN) went live on the NYSE Arca exchange this morning. As of press time, price data via the NYSE shows that trading has begun. The information, as of 9:46 a.m. EST, shows a volume of 2,100 and a price of $24.88 per share.

The firm backing the ETF said it is deploying artificial intelligence in a bid to track and include notable companies, with an emphasis on stocks that have a "current or future economic interest in blockchain technology."

Matt Markiewicz, Innovation Shares' managing director, said in a statement:

Exchange Traded Concepts, an ETF provider, is acting as the advisor for the fund.

The Innovation Shares launch represents the latest instance of an investment product aimed at taking advantage of the interest – and hype – around the technology.

As CoinDesk previously reported, the first blockchain-based ETFs were launched on both Nasdaq and the NYSE Arca, respectively, earlier this month. Those developments came months after the fall of 2017 saw a flurry of filings from ETF firms, including from those that have since gone live on the market.

Demand among traditional investors has also led, in recent months, to the creation of futures contracts dedicated to bitcoin markets. Whether they lead to the launch of a long-sought-after bitcoin ETF – as some have suggested – remains to be seen.

Investment chart image via Shutterstock