Kleinwort Hambros, the UK wealth management unit of French banking group Societe Generale, has launched a blockchain note.

The Luxembourg-listed exchange-traded note (ETN) will offer investors exposure to firms that could profit the most from blockchain adoption.

Initially, the ETN will comprise 20 stocks covering a range of sectors such as technology, shipping, oil and gas, custody and industrials.

“The initial basket of stocks will include companies carefully selected to benefit from the potential growth of blockchain, either through the sale of software services, or through the improvement in margins that the installation of blockchain technology may produce,” Kleinwort Hambros said in a statement.

Both existing and new clients can access the new offering.

The minimum investment required is £1,000.

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The ETN will be managed by the firm’s investment team.

Kleinwort Hambros portfolio manager John Birdwood said that the launch of the new proposition is in response to rising client demand for blockchain.

“We have built an innovative product which will provide our clients with the diversified exposure to the promising growth prospects blockchain technology offers, while maintaining the rigorous active management our clients expect,” Birdwood noted.

Several financial service providers are exploring blockchain technology in the recent times.

This February, Credit Suisse processed end-to-end funds transactions through blockchain.

Last year, HSBC and ING Bank utilised blockchain to carry out a live trade finance transaction.