Grayscale Investments rolls out its first European crypto ETF 🚨 This article is 3 years old...
Grayscale Investments rolls out its first European crypto ETF
The GFOF UCITS ETF will trade on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.
2 min read
Updated: Jun. 30, 2023 at 10:34 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Leading digital asset manager Grayscale Investments has teamed up with HANetf to launch a crypto-based exchange-traded fund (ETF) in Europe.
On the 16th of May, the company announced this bullish news, noting that its ETF is dubbed Grayscale Future of Finance UCITS ETF. This is Grayscale’s first crypto-based ETF in Europe and will trade under the ticker symbol GFOF.
Per the announcement, the ETF will trade on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. Additionally, GFOF UCITS ETF will be passported for sale across Europe. The ETF tracks the investment performance of the Bloomberg Grayscale Future of Finance Index.
This ETF seeks to expose investors to companies building the digital economy. These firms fall under three categories, which form the pillars that support the burgeoning industry. These are financial firms in the digital space, technology solutions providers, and digital asset infrastructure providers.
Grayscale CEO Michael Sonnenshein commented on the ETF’s launch, saying,
“This product draws upon our historical strengths, while furthering our evolution as an asset manager that helps investors build portfolios that can stand the test of time. GFOF UCITS ETF is the natural next step in our global strategic journey.”
The digital economy will drive the growth of the global economy
According to Grayscale’s Global Head of ETFs, David LaValle, the firm has for a long time believed that the digital economy would help drive the development and growth of the global economy.
He added that GFOF UCITS ETF offers European investors an opportunity to get exposure to the companies driving the evolution of the global financial system.
HANetf co-founder and co-CEO Hector McNeil said,
“In the past few years, we have seen an explosion of digital innovations and solutions disrupting the global financial sector, making it more accessible, transparent and inclusive. We are excited to work with a trusted partner like Grayscale to bring an ETF to the European market providing exposure to the digital economy.”
This news comes as Grayscale continues pushing for the U.S. Securities Exchange Commission (SEC) to approve a spot Bitcoin (BTC) ETF. Recently, Sonnenshein came out to say the regulator must get comfortable with a spot BTC ETF if it is okay with a futures BTC ETF.
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Jinia Shawdagor
Jinia is a fintech writer based in Stockholm, Sweden. With years of experience, she has written about cryptocurrency and blockchain for renowned publications such as Cointelegraph, CoinMarketCap, Bitcoinist, Invezz, etc.
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Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
