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Grayscale and Bloomberg Launch First Equity ETF

The world’s largest digital asset manager, Grayscale Investments, today announced the launch of its first ETF. Called the Grayscale Future of Finance ETF, it will be the first equity ETF to track the performance of the Bloomberg Grayscale Future of Finance Index. The Feb. 2 statement informed that the ticker of the new product will be GFOF. It will aim to build “on the proposition that the digital economy will boost global trade, boost market efficiency and provide access to new pools of capital, while reducing the need for expensive and cumbersome intermediaries.” The product will include entities from three industries. It will have asset managers, exchanges, brokers and asset managers from the digital economy. Technology solutions companies, such as companies providing technology to the digital economy and digital asset infrastructure entities – organizations involved in mining and energy management – ​​will also be part of the ETF. Grayscale has appointed US Bank as the manager and service provider of the new fund, while Foreside will be the distributor. “We are proud to announce our first ETF in partnership with Bloomberg as we undertake this strategic expansion of our business. This product leverages our historic strengths and kicks off the next phase of our evolution as an asset manager helping investors build portfolios that can stand the test of time.” – said Grayscale CEO Michael Sonnenshein. Bloomberg’s Global Head of Multi-Asset Indices, Dave Gedeon, said the new product is “ready to become the key equity benchmark for our ever-evolving digital economy.” Although GFOF launches today, Grayscale has made several failed attempts to release a spot Bitcoin ETF in the United States. Nevertheless, the company remains committed to turning its largest product – The Grayscale Bitcoin Trust – into an exchange-traded fund that tracks the performance of the primary cryptocurrency. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees.
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