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Digital Asset Manager Grayscale Launches Its First European ETF

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by Bhushan Akolkar · 2 min read
Digital Asset Manager Grayscale Launches Its First European ETF
Photo: Depositphotos

The GFOF UCITS ETF will track the performance of the companies that are at the intersection of technology, finance, and digital assets. 

On Monday, May 16, the world’s largest digital asset manager Grayscale Investments announced the launch of its first European ETF. The Grayscale Future of Finance UCITS ETF (ticker: GFOF) will list on three major indices – Deutsche Börse Xetra, London Stock Exchange (LSE), and Borsa Italiana.

The GFOF UCITS ETF will track the performance of the Bloomberg Grayscale Future of Finance Index. Earlier this year in February 2022, Grayscale launched an ETF tracking the performance of the same index. It also seeks to offer investors exposure to companies with exposure to technology, finance, and digital assets.

The Index represents companies that fall under the pillar “Future of Finance”. Apart from technology and finance, it will represent companies offering Digital Asset infrastructure. This includes companies involved in crypto mining, crypto energy management, and other activities powering the digital asset ecosystem. David LaValle, Global Head of ETFs at Grayscale Investments said:

“At Grayscale, we have long believed that the digital economy will be a major driver for the development and growth of the global economy. Through GFOF UCITS ETF, European investors now have the opportunity to receive exposure to the companies that are pivotal to the evolution of the global financial system. We are incredibly proud to reach this international milestone as Grayscale remains at the forefront of digital currency investing.”

Grayscale ETF: Europe Expansion

Grayscale spoke about its plans to expand in the European market last month. The digital asset manager said that it will first start conducting some pilot tests in different cities in Europe. Thus, the latest ETF launch seems to be the first step in this direction. Speaking of the development, Grayscale Investments CEO Michael Sonnenshein said:

“We announced our first ETF earlier this year in partnership with Bloomberg as part of the expansion of our business. With growing global demand from both institutional and individual investors for Grayscale products, we’re thrilled to be expanding our offering in Europe through the UCITS wrapper. 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.”

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