Grayscale launches its first European ETF

The U.S. digital-asset manager Grayscale Investments has announced the launch of its first exchange-traded fund (ETF) in Europe.

An exciting milestone: Announcing our first European ETF, Grayscale Future of Finance UCITS ETF — listing on London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.
https://t.co/kwmWSxvOiV

— Grayscale (@Grayscale) May 16, 2022

The Grayscale Future of Finance UCITS ETF has been listed on the LSE, Borsa Italiana, and Deutsche Börse’s Xetra trading venue.

The instrument tracks the Bloomberg Grayscale Future of Finance index. Grayscale noted that in the United States a similar ETF has been trading since February.

The index comprises three main components:

• Financial Foundations — asset managers and private capital, exchanges, brokers involved in building the digital economy;
• Technology Solutions — organisations providing technology to simplify the digital economy through data and processing;
• Digital Asset Infrastructure — includes companies directly involved in mining, energy management, and activities that underpin the infrastructure of digital assets.

\u00abWe announced our first ETF earlier this year in partnership with Bloomberg as part of our business expansion. With growing global demand for Grayscale products from institutional and retail investors, we are pleased to expand our offering in Europe through the UCITS wrapper\u00bb, said Grayscale CEO Michael Sonnenshein.

In April, announced the expansion of Grayscale into the European market.

The company is awaiting approval from SEC for converting its largest Bitcoin-based trust GBTC into an ETF.

On May 12, amid the regulator’s delay, the GBTC discount to quotes exceeded 30%.