Grayscale launches first European ETF

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

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

— Grayscale (@Grayscale) 16 May 2022

Grayscale Future of Finance Listed on UCITS ETF LSE, stock market italian and the German platform Xetra from Deutsche Börse.

The tool monitors 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.

“Earlier this year, we announced our first ETF in partnership with Bloomberg as part of business expansion. With the increasing 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, it announced the expansion of Grayscale to the European market.

As a reminder, the company is awaiting approval. SEC Apps to convert the largest bitcoin-based GBTC trust into an ETF.

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