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Grayscale Investments enters European ETF market with HANetf collaboration

Digital_agreementDigital currency asset manager Grayscale Investments is listing the Grayscale Future of Finance Ucits ETF (GFOF) across select European stock exchanges.

The New York-based firm’s first European ETF will list on the London Stock Exchange, Borsa Italiana, and Deutsche Börse Xetra, and will also be passported for sale across Europe.

Grayscale collaborated with European Ucits ETF issuer HANetf to create GFOF, which tracks the performance of the Bloomberg Grayscale Future of Finance Index, providing investors with exposure to companies that are “building the digital economy”, including those specialising in digital assets and technology.

In February this year, Grayscale listed an ETF in the US that tracks the Bloomberg Grayscale Future of Finance Index.

The index comprises companies that represent what it calls the three “future of finance pillars”, the first of which is “financial foundations”, which includes asset managers, exchanges, brokerages, and wealth managers involved in the enablement of the digital economy.

The second “pillar” is technology solutions, defined as organisations providing the technology to facilitate the digital economy through data and processing, while the third pillar – digital asset infrastructure – includes companies directly involved in mining, energy management, and activities that power the digital asset ecosystem.

Grayscale Investments CEO Michael Sonnenshein said: “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. GFOF is the natural next step in our global strategic journey.”

Hector McNeil, co-CEO and co-founder of HANetf added that he has seen an “explosion” of digital innovations and solutions disrupting the global financial sector over the past few years, making it “more accessible, transparent and inclusive”.

“We are excited to work with a trusted partner like Grayscale to bring an ETF to the European market providing exposure to the digital economy,” McNeil said.

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