Grayscale Investments has launched the first European cryptocurrency ETF.
Grayscale Investments, leading digital asset management, has partnered with HANetf to create a crypto-based exchange-traded fund (ETF) in Europe. The business revealed this positive news on May 16th, stating that their ETF is called Grayscale Future of Finance UCITS ETF. Grayscale’s first cryptocurrency-based ETF in Europe will trade under the ticker name GFOF. The ETF will be traded on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra, according to the statement. Furthermore, the GFOF UCITS ETF will be passported for sale throughout Europe. The ETF tracks the investment performance of the Bloomberg Grayscale Future of Finance Index.
This ETF aims to expose investors to firms that are constructing the digital economy. These businesses are divided into three groups, which serve as the pillars that sustain the developing sector. These include digital financial businesses, technical solution providers, and digital asset infrastructure, suppliers. According to Grayscale’s Global Head of ETFs, David LaValle, the business has long maintained that the digital economy will assist drive global economic development and progress. He also stated that the GFOF UCITS ETF allows European investors to have exposure to the firms driving the growth of the global financial system. Hector McNeil, co-founder, and co-CEO of HANetf stated, “In recent years, we have witnessed an explosion of digital technologies and solutions changing the global financial industry, making it more open, transparent, and inclusive. We are thrilled to collaborate with a reputable partner like Grayscale to deliver an ETF giving exposure to the digital economy in the European market. This announcement comes as Grayscale continues to press the Securities and Exchange Commission (SEC) of the United States to establish a spot Bitcoin (BTC) ETF. Sonnenshein recently stated that the regulator must get happy with a spot BTC ETF if it is cool with a futures BTC ETF.