Crypto investment firm Grayscale expands into Europe with new ETF

Market-leading crypto wealth manager Grayscale is expanding into Europe with a new crypto index fund (ETF).

Grayscale announced its first European ETF today, May 16th. As a spokesman for the investment firm confirmed to Cointelegraph, the Grayscale Future of Finance UCITS ETF will be tradable as early as tomorrow, May 17.

The new investment product will be listed on the major European stock exchanges, including the London Stock Exchange, the Italian Stock Exchange (Borsa Italiana) and the German Stock Exchange (Xetra). The ticker of the new crypto ETF is GFOF.

The GFOF UCITS ETF is launched in cooperation with Bloomberg and accordingly tracks the price development of the joint Bloomberg Grayscale Future of Finance Index. Bloomberg and Grayscale launched the index in January 2022 . The index, which specializes in “digitization”, includes companies from the technology, finance and crypto sectors.

As per the press release, the crypto companies represented in the ETF are from mining, energy management and other cryptocurrency-related business activities. The index fund includes companies such as Robinhood, PayPal, Block, Coinbase and Canaan.

"Through the GFOF UCITS ETF, European investors can now invest in companies that are making important contributions to the evolution of the global financial system," explains David LaValle, director of ETFs at Grayscale.

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