Categories: Finance

Grayscale Launches Crypto ETFs in Europe

Grayscale Launches Crypto ETFs in Europe

Investment company Grayscale Investments announced the listing of the exchange-traded fund (ETF) Future of Finance on the London Stock Exchange (LSE), Deutsche Börse Xetra and Borsa Italiana.

In company promisethat the Grayscale Future of Finance UCITS ETF (GFOF) will allow investors to buy shares and bet on the performance of companies working with digital assets.

The fund is based on the Bloomberg Grayscale Future of Finance (BGFOF) index, which tracks the performance of financial services companies that have the potential to become leaders in the emerging digital economy. These include shares of companies such as Paypal, Coinbase, Block, Robinhood and others. As well as several mining companies including Northern Data, Argo Blockchain and Canaan.

GFOF was first launched in February on the New York Stock Exchange (NYSE) and currently includes 21 public companies. The starting price of a share of the fund was $25.93, however, after the fall of shares of crypto companies last week, trading on Friday stopped at $14.69. However, Grayscale is confident in the long-term value of the product.

According to Grayscale ETF director David LaValle, the company believes that the digital economy will become the main driver of global economic growth. Now European investors, says LaValle, have the opportunity to access companies that play a key role in the development of the financial system.

The first crypto ETFs were launched in Australia last week, however, due to the fall of the crypto markets, the trading volume was only 1.3 million Australian dollars.

Source: Bits