December 1, 2022

Grayscale announced the launch of the first ETF in Europe

American digital asset manager Grayscale Investments announced the launch of the first exchange fund (ETF) in Europe.

The Grayscale Future of Finance UCITS ETF has been listed on the LSE, Borsa Italiana and the German exchange Xetra by Deutsche Börse.

The tool tracks the investment performance of the Bloomberg Grayscale Future of Finance index. The company recalled that a similar ETF has been trading in the US since February.

The index includes three main components:

  • Financial Foundations - asset and private wealth managers, exchanges, brokers involved in the creation of the digital economy;
  • Technology Solutions - organizations that provide technologies to simplify the digital economy through data and processing;
  • Digital Asset Infrastructure - includes companies directly involved in mining, energy management and activities that provide infrastructure for digital assets.

“We announced our first ETF at the start of thisyears in partnership with Bloomberg as part of the expansion of the business. With growing global demand for Grayscale products from institutional and individual investors, we are pleased to expand our offer in Europe through the UCITS shell,” said CEO Michael Sonnenschein.

In April, he announced Grayscale's expansion into the European market.

The company is awaiting approval from the SEC to convert its largest bitcoin-based GBTC trust into an ETF.

On May 12, against the backdrop of a delay in the decision of the regulator, the discount to GBTC quotes exceeded 30%.