Grayscale Investments announced on Monday it is set to make a play for Europe, with its first exchange traded fund (ETF) in the region.
The product, known as the Grayscale Future of Finance UCITS ETF, tracks the investment performance of the Bloomberg Grayscale Future of Finance Index, the firm said in a release.
It seeks to offer investors exposure to companies at the intersection of finance, technology and digital assets — companies that the firm says are building the digital economy — through an ETF wrapper.
It will list on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra with the ticker GFOF and be passported for sale across Europe – marking the next stage in the firm’s expansion into the region.
“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 CEO Michael Sonnenshein said in the release.
In February 2022, Grayscale listed an ETF in the United States which tracks the same index. A tracker on Grayscale’s website showed it closed at $14.69 on Friday, down from around $26 on February 1.
Its top 10 holdings include crypto exchange Coinbase, Robinhood and Block (formerly known as Square).