Bitcoin Investment Giant Grayscale Launches ETF in Europe

Crypto investment giant Grayscale is expanding its business with the launch of a new crypto-related exchange-traded fund (ETF) in Europe.

Grayscale officially announced its first European ETF on May 16, called the Grayscale Future of Finance UCITS ETF.

New investment products are being listed on major European stock exchanges, including the London Stock Exchange, Borsa Italiana and Deutsche Börse’s electronic trading platform Xetra. The ETF, which has the ticker symbol GFOF, will also be approved for sale in Europe.

Launched in partnership with Bloomberg, GFOF UCITS ET tracks the performance of the Bloomberg Grayscale Financial Futures Index.Bloomberg and Grayscale Jointly introduced Released in January 2022, the index aims to track the digital economy, focusing on the three main directions of technology, finance and digital assets.

According to the announcement, the new ETF includes companies directly involved in cryptocurrency mining, energy management and other activities in the digital asset ecosystem.

“Through the GFOF UCITS ETF, European investors now have access to companies that are critical to the development of the global financial system,” said David LaValle, global head of ETFs at Grayscale.

Grayscale has also partnered with European white label issuer HANetf to create new investment products.The issuer is Known for working with blockchain ETFs Partner with companies like ETC Group.

Grayscale is one of the largest bitcoins in the world (Bitcoin) investment firm with $18.3 billion in assets under management for the Grayscale Bitcoin BTC Trust (GBTC). Under the circumstance of severe market volatility, GBTC recorded a sharp decline, Deal at nearly 31% off May 13.

The company has Aggressive push for its Bitcoin spot ETF, CEO Michael Sonnenshein claimed that Grayscale is preparing for a legal battle with the SEC if Grayscale’s ETF is rejected.According to reports, the company tried Convincing the SEC to turn the largest BTC fund into an ETF would free up $8 billion for investors.

related: Why the world needs a US spot bitcoin ETF: 21Shares CEO explains

The news comes amid growing adoption of crypto and industry-related ETFs worldwide, with total assets invested in crypto ETFs reaching $16.3 billion in the first quarter of 2022.

21Shares, a major European cryptocurrency ETF issuer, recently expand Its investment products offer Layer 1 and Decentralized Finance (DeFi) infrastructure Exchange Traded Products (ETPs).

The 21Shares Crypto Layer 1 ETP (LAY1) was listed on six Swiss exchanges on May 12, offering investors access to five of the largest blockchains in the DeFi industry. 21Shares DeFi 10 Infrastructure ETP (DEFI) will be listed on the same exchange on May 18.