Grayscale Lists First ETF in Europe

Grayscale has launched the first European exchange-traded fund (ETF). According to the firm, Grayscale Future of Finance UCITS ETF (ticker: GFOF) will trade on certain exchanges in Europe including the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.

GFOF UCITS ETF will also be passported for sale across Europe – so effectively the continent. The ETF will track the investment performance of the Bloomberg Grayscale Future of Finance Index tracking Fintech and digital asset firms, similar to a listed an ETF in the United States that tracks the Index’s performance.

The Bloomberg Grayscale Future of Finance Index comprises companies representing three “Future of Finance” pillars:

Michael Sonnenshein, CEO of Grayscale Investments, pointed to “growing global demand from both institutional and individual investors” for their products.

“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 ETF was created in collaboration with HANetf, Europe’s first full services ‘white label’ UCITS ETF issuer.

Hector McNeil, co-CEO and co-Founder of HANetf, said they have seen an explosion in innovation and solutions disrupting the financial sector:

“We are excited to work with a trusted partner like Grayscale to bring an ETF to the European market providing exposure to the digital economy.”

Grayscale claims the title of the largest digital currency asset manager in the world. One area that Grayscale has struggled is transitioning its listings on OTC Markets to an ETF traded on an exchange. But the company has yet to concede defeat. Eventually…

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