Grayscale plans to introduce a less-risky crypto ETF that will be traded across Europe.
Grayscale Investments announced the launch of several new European-listed products as part of its transatlantic debut on Monday.
Grayscale Future of Finance UCITS ETF will be launched in Europe by the asset manager. Grayscale’s first European fund will be listed on the London Stock Exchange, the Borsa Italiana, and the Deutsche Börse Xetra. Furthermore, the ETF will be available for trading throughout Europe.
As a result of the May market chaos, crypto uncertainty is on the rise, putting top cryptocurrencies under pressure. Furthermore, the demise of Terra’s LUNA and UST tokens, as well as widespread fear in the cryptocurrency market, have sent traders into hibernation. As a result, Grayscale is launching a less risky ETF that includes companies in digital assets, finance, and technology.
Grayscale Crypto Investment Provides a Less Risky Alternative in Europe
Grayscale, the world’s largest asset management firm, will launch the Future of Finance UCITS ETF on May 17. According to a tweet from the company on May 16, it will track the performance of the Bloomberg Grayscale Future of Finance Index.
The GFOF UCITS ETF was developed in collaboration with HANetf, a full-service European ETF issuer. Investors can diversify their portfolios by investing in the ETF, which includes companies such as PayPal, Coinbase Global, Block, Robinhood Markets, and Argo Blockchain.
In response to global demand for Grayscale products from institutional and individual investors, the company’s CEO, Michael Sonnenshein, stated:
“We’re thrilled to be expanding our offering in Europe through the UCITS wrapper. This product draws upon our historical strengths while furthering our evolution as an asset manager that helps investors build portfolios that can stand the test of time.”
Grayscale launched an ETF in the United States in February that tracks the performance of the Bloomberg Grayscale Future of Finance Index.
Grayscale’s Bitcoin ETF Is Still In Doubt
The Grayscale Bitcoin Trust (GBTC) has yet to be converted into a spot Bitcoin ETF. Furthermore, the SEC has remained silent on the prospect of a spot Bitcoin ETF in the United States.
However, with the approval of Teucrium and Valkyrie Bitcoin futures ETFs under the 33 Act, the company is optimistic that conversion rather than a new spot Bitcoin ETF is more likely.
