Grayscale files for ‘Future of Finance’ ETF targeting blockchain-linked stocks

Grayscale Investments, a digital assets manager, filed for the launch of an exchange-traded fund (ETF) named Grayscale Future of Finance. Its holdings will comprise shares of blockchain-related companies.

Interesting, Grayscale filing for a “Future of Finance ETF” (GFOF) which will track blockchain type stocks it looks like.. pic.twitter.com/Rp3v38xRYd

— Eric Balchunas (@EricBalchunas) November 5, 2021

The instrument will carry the ticker GFOF [from Grayscale Future of Finance ETF].

The index tracks Bloomberg Index Services Limited, comprising the shares of companies whose activities intersect at the triad of finance, technology and digital assets.

The index includes the shares of firms connected with:

• buying, selling and facilitating transactions in digital assets;
• mining cryptocurrencies;
• developing the infrastructure for building dapps;
• creating technical solutions to advance the digital asset ecosystem.

GFOF is expected to be a passive managed ETF.

On October 19, Grayscale filed Form 19b-4 with the SEC to convert the Bitcoin Trust into a spot ETF under the ticker BTC. The decision followed the start of trading of the first futures-based ETF on the first cryptocurrency.

The trust is Grayscale’s largest. As of November 5, its assets under management stood at $39.7 billion. The company’s total AUM was estimated at $55.9 billion.

11/5/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $55.9 billion$BTC $BAT $BCH $LINK $MANA $ETH $ETC $FIL $ZEN $LTC $LPT $XLM $ZEC $UNI $AAVE $COMP $CRV $MKR $SUSHI $SNX $YFI $UMA $BNT $ADA $SOL pic.twitter.com/CjYZ4pWeZP

— Grayscale (@Grayscale) November 5, 2021

Earlier Arcane Research said the odds of launching a Grayscale spot Bitcoin ETF were low, based on the continued discount of the Bitcoin Trust’s trading price to its NAV.

As a reminder, the GBTC discount has persisted since February 23. At the time of writing, it stood at 15.4%.

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