A reputable cryptocurrency investment company, Grayscale, launched its first-ever European Exchange Traded Fund (ETF). The ETF, following the announcement, has been listed on major platforms like the London Stock Exchange.
The move by the crypto investment company is a tactical way of expanding the business and operations. The exchange that is on the stock market is unique because it is not like other exchange funds. The Grayscale listing is related to cryptocurrency.
The company has its products listed on the top major platforms on European stock exchanges, including the electronic trading platform Xetra. In addition, the company got listed under the GFOF, which will also make it possible to have the exchange-traded fund sold beyond Europe.
The GFOF UCITS Exchange Traded Fund is in partnership with Bloomberg. The structure of the investment product allows it to be monitored by the Future of Finance Index, which was jointly developed by Blomberg and Greyscale. The index was designed in January. It was made to monitor the index’s performance, including that of a wider digital economy, including digital assets, finance, and technology.
Collaboration across the Crypto Space
The new listing opens the door to other similarly aligned crypto companies by linking these other companies to the bigger exchange listing platform. Grayscale also said in their announcement that the ETF will work directly with other cryptocurrency mining and energy companies that are in the cryptocurrency space.
David LaValle, who is the global head of Grayscale on ETFs, said, “Through the GFOF UCITS ETF, European investors can now get exposure to the companies that are key to the development of the global financial system.”
As part of fostering collaboration with other blockchain technology companies, Grayscale collaborates with HANetf, a white-label issuer, to create a new investment product. HANetf has been a leading organisation working on blockchain ETFs with various organizations.
Grayscale has been working tirelessly to further open up the Bitcoin investment world. One of its strategies to push the investment product is to invest over $18.3 billion in Grayscale Bitcoin BTC Trust (GBTC) in assets under management.
In a move to further achieve its objectives, the CEO of Grayscale, Michael Sonnenshein, has noted that the firm is ready to enter into a legal battle with the US Securities and Exchange Commission should the ETF be denied. In the CEO’s statement, the company said that it has convinced the SEC that the launch of the crypto-linked ETF will be good for the stock market.