Grayscale Investments has announced the launch of its first exchange-traded fund (ETF) product in the European Economic Area.
According to a press release published by the firm, the new ETF product is dubbed the Grayscale Future of Finance UCITS ETF. This product will trade under the GFOF ticker symbol and will be featured on three leading exchanges in the region including the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.
Grayscale is one of the world’s top leaders in digital asset management and product development. The European ETF is an analogue of its earlier product launched in the US which tracks the performance of the Bloomberg Grayscale Future of Finance Index. This index seeks to expose investors to firms at the baseline of finance, technology, and cryptocurrency evolution respectively.
“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,” said Grayscale Investments CEO Michael Sonnenshein.
“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.”
Grayscale comes off as one of the leading firms working assiduously to float a Bitcoin spot ETF product in the United States and while the Securities and Exchange Commission has made the company and others’ efforts in this regard to be futile, it has refused to give up on its goal.
Grayscale Investments, owned by the Digital Currency Group plans to convert its flagship Grayscale Bitcoin Trust (GBTC) product into a full-fledged ETF and it is determined to get a green light from regulators
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Source: https://blockchain.news/news/grayscale-debuts-first-european-etf