The largest digital currency assets manager in the world Grayscale will launch its first Europe-based Exchange-Traded Fund (ETF). The said ETF will go to track Bloomberg’s Grayscale Future of Finance Index. As told by Grayscale, the said exchange-traded fund (ETF) is established by the companies representing the ‘Future of Finance’ (FOF) Index.
The FOF Index has been established by a group of companies working in three different sectors. These include financial foundations and technology solutions organizations that develop, maintain, and run the digital economy technology. Also, companies handling digital asset infrastructure, cryptocurrency mining, and other activities related to the crypto ecosystem have been listed under FOF Index.
In addition, the Grayscale Future of Finance UCITS ETF will list on various European stock exchanges across different countries. This includes the London Stock Exchange (LSE), the Deutsche Börse of Germany, and Borsa Italiana of Italy.
The investors will be able to invest in the GFOF UCITS ETF through the above-mentioned stock exchange platforms. According to the company’s representative, the trading will start tomorrow. The index includes a variety of companies from digital currencies, digital asset managers, exchanges, brokers, technological organizations, as well as firms involved in cryptocurrency mining.
Moreover, Grayscale launched the same ETF on New York Stock Exchange to track the same index in February 2022. According to the Grayscale website, it opened the trading at $26 on Feb 1 but the price came down by $14 in March.
Also read: What is Bitcoin ETF and why it is so important for investors
