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The First European ETF to be Launched by Grayscale

Grayscale Investments stated on Monday that it is planning to enter the European market with its first exchange-traded fund (ETF).

Grayscale Investments stated on Monday that it is planning to enter the European market with its first exchange-traded fund (ETF).

The Grayscale Future of Finance UCITS ETF, according to the company, reflects the performance of investments of the Bloomberg Grayscale Future of Finance Index. Via an ETF wrapper, it aims to provide investors with coverage to businesses at the convergence of finance, technology, and crypto assets, firms that the company claims are “building the digital economy.”

It will trade under the ticker GFOF on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra, and would be meant to carry for sale throughout Europe, representing the next step in the firm’s European expansion. 

Michael Sonnenshein, the CEO of Grayscale said in the release that “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.” 

Grayscale launched an ETF in the United States in February 2022 through which the very same index is tracked. Grayscale closed at $14.69 on May 13, falling from roughly $26 on February 1, according to a tracker on the company’s website. The most prominent holdings are Block, Robinhood, and Coinbase.

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