Asset manager Grayscale announces maiden ETF in Europe

• The Grayscale Future of Finance UCITS ETF tracks the Bloomberg Grayscale Future of Finance Index
• The ETF will list on the Borsa Italiana, London Stock Exchange (LSE), and Deutsche Börse Xetra

Digital asset management firm Grayscale on Monday issued a press release revealing that it is stretching its offering to European investors by listing its first European EFT. The Grayscale Future of Finance UCITS ETF will be a stark indicator of the evolution of Grayscale to the next level.

The first in Europe

The ETF offering is planned to get listed on the Borsa Italiana, London Stock Exchange (LSE), and Deutsche Börse Xetra under the ticker GFOF. It is structured to allow investors to interact with firms at the intersection of virtual assets, technology, and finance. 

The new offering will track the performance of the Bloomberg Grayscale Future of Finance Index, which focuses on the three listed sectors. Investment in the EFT would enable investor exposure to asset managers, brokerages, data processors, miners, and other firms that power the digital asset ecosystem.

‘The natural next step in our global strategic journey’

Grayscale chief executive Michael Sonnenshein described the ETF as an essential part of its strategic expansion outside its existing market.                     

“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. 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,” Sonnenshein said in a statement.

The Global Head of ETFs, David LaValle, expressed his belief that the digital space will be a major driver of the evolution and burgeoning global ecosystem. LaValle added the ETF is a plus for the European investor who now has exposure to futures of firms that will play a critical role in this evolution.

“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. We are incredibly proud to reach this international milestone as Grayscale remains at the forefront of digital currency investing,” he noted.