Grayscale Investments, one of the largest digital currency assets managers in the world has announced the launch of its first Exchange Traded Fund (ETF) product in Europe. The new product is dubbed the Grayscale Future of Finance UCITS ETF and will trade under the GFOF ticker symbol.
At launch, the GFOF will be listed on exchanges across Europe including the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. This wide initial reach is evidence of how established Grayscale is in the asset management world.
“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.”
The product will track the performance of the Bloomberg Grayscale Future of Finance Index, granting direct exposure to companies pulling significant weights in the world of Finance, Technology, and Digital Assets. The combination of these is believed to be pivotal to the inevitable push into the next frontier of the digital economy.
Grayscale is Strengthening Investor’s Exposures With Targeted Funds
The European UCITS Exchange Traded Fund is a very crucial strategy Grayscale is pulling to grant its clients more exposure to the broader financial landscape. It is doing so with a functional partnership with finance giant and media house, Bloomberg.
Known for the launch of related innovative products, an earlier version of the Grayscale Future of Finance Index has debuted in the US earlier this year and the firm is optimistic that with its prior ETF successes, this European version will also take off on a promising start.
“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,” said David LaValle, Global Head of ETFs at Grayscale Investments, adding;
“We are incredibly proud to reach this international milestone as Grayscale remains at the forefront of digital currency investing.”