Bitcoin investment giant Grayscale debuts ETF in Europe

Crypto concern elephantine Grayscale is expanding operations by launching a caller crypto-linked exchange-traded money (ETF) successful Europe.

Grayscale officially announced its archetypal European ETF, called Grayscale Future of Finance UCITS ETF, connected May 16.

The caller concern merchandise is getting listings connected large European banal exchanges, including the London Stock Exchange, Borsa Italiana arsenic good arsenic Deutsche Börse’s physics trading level Xetra. Listed nether the ticker awesome GFOF, the ETF volition besides beryllium passported for merchantability crossed Europe.

An breathtaking milestone: Announcing our archetypal European ETF, Grayscale Future of Finance UCITS ETF — listing connected London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.
https://t.co/kwmWSxvOiV

— Grayscale (@Grayscale) May 16, 2022

Launched successful concern with Bloomberg, GFOF UCITS ET tracks the show of the Bloomberg Grayscale Future of Finance Index. Bloomberg and Grayscale jointly introduced the scale successful January 2022, aiming to way the integer economy, focusing connected 3 main directions similar technology, concern and integer assets.

According to the announcement, the caller ETF includes companies straight progressive successful cryptocurrency mining, vigor absorption and different activities successful the integer plus ecosystem.

“Through GFOF UCITS ETF, European investors present person the accidental to person vulnerability to the companies that are pivotal to the improvement of the planetary fiscal system,” Grayscale’s planetary caput of ETFs David LaValle said.

Grayscale besides collaborated with Europe’s white-label issuer HANetf to make the caller concern product. The issuer is known for cooperating connected blockchain ETFs with companies similar ETC Group.

Grayscale is 1 of the world’s largest Bitcoin (BTC) concern companies, providing the Grayscale Bitcoin BTC Trust (GBTC) with $18.3 cardinal successful assets nether management. Amid monolithic marketplace volatility, GBTC recorded a important decline, trading astatine a astir 31% discount on May 13.

The steadfast has been aggressively pushing its Bitcoin spot ETF, with CEO Michael Sonnenshein claiming that Grayscale was gearing up for a ineligible combat with the United States Securities and Exchange Commission if its ETF is denied. The steadfast reportedly tried to transportation the SEC that turning the biggest BTC money into an ETF would unlock $8 cardinal for investors.

Related: Why the satellite needs a spot Bitcoin ETF successful the US: 21Shares CEO explains

The quality comes amid the expanding adoption of crypto and industry-related ETFs worldwide, with full assets invested successful crypto ETFs hitting $16.3 cardinal successful Q1 2022.

21Shares, a large crypto ETF issuer successful Europe, precocious expanded its concern offering with a Layer 1 and decentralized concern (DeFi) infrastructure exchange-traded products (ETPs).

Listed connected SIX Swiss Exchange connected May 12, the 21Shares Crypto Layer 1 ETP (LAY1) offers investors vulnerability to the 5 largest blockchains successful the DeFi industry. The 21Shares DeFi 10 Infrastructure ETP (DEFI) volition database connected the aforesaid speech connected 18 May.