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Grayscale debuts first European ETF: Adds 5 products on OTC markets

17 May 2022 : 11:31
2 min read
  • Grayscale announced its first European ETF, the Grayscale Future of Finance UCITS ETF
  • The firm also added five new products which are now trading on OTC Markets
  • The SEC and Grayscale met to discuss the conversion of GBTC into a BTC spot ETF

Grayscale, the world’s largest digital currency asset manager and the owner of crypto media outlet CoinDesk, has added five new products which are now trading on OTC Markets. The firm has also announced its first European ETF, the Grayscale Future of Finance UCITS ETF, which will trade under the ticker GFOF.

Grayscale continues to expand

As per a press release, Grayscale added five new products: the Basic Attention Token Trust (symbol: GBAT), the Chainlink Trust (symbol: GLNK), the Decentraland Trust (symbol: MANA), the Filecoin Trust (symbol: FILG) and the Livepeer Trust (symbol: GLIV). As of now, the asset manager has 14 digital currency investment products trading on OTC Markets.

These Trusts will provide exposure to the price movement of each of the underlying digital assets and help investors avoid the challenges of buying, storing, and safekeeping the assets directly.

Additionally, Grayscale also launched its first European ETF, GFOF UCITS ETF, which will list on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. Interestingly, as per the official press release, the ETF will also be passported for sale across Europe. The product will track the investment performance of the Bloomberg Grayscale Future of Finance Index.

With the help of this new product, investors will be able to gain exposure to the firms “at the intersection of finance, technology, and digital assets.”

Conversion of GBTC to BTC ETF

Furthermore, Grayscale was also pushing the SEC hard to approve the conversion of its well-known flagship product GBTC or the Grayscale Bitcoin Trust into a Bitcoin spot ETF and held a private meeting with the regulatory authority as per a report from CNBC. As per the report, the asset management firm said that this conversion would broaden access to bitcoin and enhance protections by unlocking around $8 billion in value for investors. The firm first asked SEC for the conversion in October 2021.

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