Key takeaways:
- Leading digital asset manager Grayscale Investments has launched its first crypto-oriented European ETF
- The new exchange traded fund will track the performance of companies included in the Bloomberg Grayscale Future of Finance Index
- Grayscale is the biggest institutional holder of crypto, with close to $20 billion in Bitcoin and over $6 billion in Ethereum under management
Grayscale’s new ETF to track the performance of the Bloomberg Grayscale Future of Finance Index
Grayscale Investments, the world’s largest cryptocurrency asset manager, has launched Grayscale Future of Finance UCITS ETF, the company’s first European exchange traded fund (ETF). The new investment vehicle will be available to customers across Europe via the London Stock Exchange, Borsa Italiana, and Deutsche Börse Xetra.
According to a press release, Grayscale’s new ETF will track the “investment performance” of the Bloomberg Grayscale Future of Finance Index. The Index consists of companies involved in the digital economy, including exchanges, brokerages, technology developers, as well as cryptocurrency mining and infrastructure companies.
The news of expansion in the European market comes roughly three months after Grayscale launched its US-based ETF tracking Bloomberg’s “Future of Finance” Index. Global Head of ETFs at Grayscale David LaValle had this to say about the launch of the new digital asset-oriented investment vehicle:
“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.”
LaValle added that the Grayscale team is “incredibly proud” about being at the “forefront of digital currency investing.”
In related news, earlier this year, Grayscale launched a smart contract investment product consisting of Ethereum competitors, including Cardano, Solana, and Avalanche. At the time, the company said that the new fund was established as a response to growing investor demand for “diversified exposure.”
According to Bitcoin Treasuries, Grayscale manages by far the largest among of Bitcoin out of any public and private company. The asset manager’s Bitcoin stash consists of over 654,000 BTC, worth just shy of $20 billion at press time. Grayscale second-largest product based on dollar amount is Ethereum Trust, with over $6 billion in assets under management.
