Grayscale Investments to List Its First ETF in Europe

The Grayscale Future of Finance exchange-traded fund will list on the London Stock Exchange, Deutsche Börse and Borsa Italiana.

AccessTimeIconMay 16, 2022 at 8:38 a.m. UTC
Updated May 16, 2022 at 2:22 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Grayscale Investments plans to list its first exchange-traded fund (ETF) in Europe, offering investors exposure to companies in finance, technology and digital assets.

The Grayscale Future of Finance UCITS ETF (GFOF) will list on the London Stock Exchange (LSE), the Deutsche Börse and Borsa Italiana and will be available to investors across Europe. Trading in the ETF is set to start Tuesday, a company representative said.

The ETF will track the Bloomberg Grayscale Future of Finance Index, which was launched in January to track the performance of financial services and technology companies in the digital economy. They include PayPal (PYPL), Coinbase Global (COIN), Block (SQ), Robinhood Markets (HOOD) and Argo Blockchain (ARB).

CEO Michael Sonnenshein said in April that the digital asset manager wanted to enter the European crypto fund market, where there are already over 70 exchange-traded products with a total of $7 billion in crypto and related assets. The new company-focused ETF will join incumbents such as the VanEck Vectors Digital Assets Equity ETF (DAPP) and Melanion Capital's BTC Equities Universe ETF (BTC).

A similar ETF, which has been listed in the U.S. since February on the NYSE Arca, was designed to broaden Grayscale's offering away from direct investment in digital assets, offering investors exposure to companies whose performance is indirectly linked to the crypto market.

Grayscale is currently seeking to convert its Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF in the U.S. Markets regulator the Securities and Exchange Commission (SEC) has yet to approve such a product despite having received dozens of applications in recent years.

Grayscale is a subsidiary of Digital Currency Group, which is also the parent company of CoinDesk.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
2
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
3
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
4
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown