Crypto Asset Manager Grayscale starts Future of Finance ETF in partnership with Bloomberg-Finance

Von Krypto News Österreich

Crypto asset asset Grayscale Investments launches the ETF

Grayscale investments has launched its first stock market -traded fund (ETF). The Grayscale Future of Finance ETF "strives to invest in companies and technologies that shape the 'future of financial system'."

The first ETF of Grayscale

Grayscale Investments, the world's largest asset manager for digital currencies, announced the introduction of his first stock market traded fund (ETF) with the name Grayscale Future of Finance ETF (symbol: GFOF).

The company said that its new ETF "would like to invest in companies and technologies that shape the 'future of financial system'". In addition, he is "the first stock ETF to depict the investment performance of the Bloomberg Grayscale Future of Finance Index".

David Lavalle, Global Head of ETFs at Grayscale Investments, said:

by GFOF, investors now have the opportunity to participate in the companies that are of crucial importance for the development of the global financial system.

22 participations, but no microstrategy

The fund has 22 investments on February 2. The top participations are PayPal Holdings, Coinbase Global, Silvergate Capital, Robinhood Markets, Block (formerly Square), Plus500, ARGO Blockchain, Hut 8 MiningBitfarms and Hive Blockchain technologies.

The stocks of the new ETF of Grayscale on February 1. Source: Grayscale Investments

The microstrategy listed on the Nasdaq is not included in the ETF components. Michael Sonnenhein, CEO of Grayscale, said on Wednesday on CNBC that "the way we designed this product was to rule out companies that keep Bitcoin in balance". Microstrategy bought 660 more bitcoin On Tuesday, the increase in the company Bitcoin stocks at about 125.051 bitcoin .

The US Bank selected

Grayscale as administrator and service provider for the ETF. Foreside will act as the sales point of the ETF.

Dave Gedeon, global director of Multi-Asset indices at Bloomberg, found that the new ETF product is supported by proprietary data and "resilient research by Bloomberg Intelligence" and stated:

The Bloomberg Grayscale Future of Finance Index is prepared to become the most important stock benchmark for our constantly developing digital economy.

Grayscale currently manages assets of $ 34.6 billion (AUM). The company offers 16 crypto system products. The largest is the Grayscale Bitcoin Trust (GBTC) with a fortune of $ 24.8 billion. The latest addition was the Solana trust

In January, Grayscale said that it was considering 25 more crypto-assets Total number of assets under consideration increased to 43.

What do you think that Grayscale investments put up his first ETF? Let us know in the comment area below.

Kevin Helms

As a student of Austrian economics, Kevin Bitcoin discovered in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.


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