Amid continued pushback by the US SEC… Grayscale launches its first ETF


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Grayscale, the world’s largest digital asset manager with more than $36.5 billion in assets under management (AUM), has launched its first exchange-traded fund (ETF).

The new ETF is called Grayscale Future of Finance (GFOF) and is an ETF that tracks the performance of the Bloomberg Grayscale Future of Finance index.

The new ETF was launched early last week.

Grayscale has also proposed converting its Grayscale (GBTC) fund into an ETF pending SEC approval.

Grayscale launches its first ETF:

at press releaseGrayscale Investments, the world’s largest digital asset manager, announced that it has launched its first exchange-traded fund (ETF) in partnership with Bloomberg.

The “Grayscale Future of Finance ETF” index with ticker symbol “GFOF” will track the performance of Bloomberg’s “Grayscale Future of Finance” index.

The index tracked by Grayscale’s ETF consists of stocks of companies that act as asset managers, exchanges, brokers, and wealth managers in the digital economy, companies that provide technology solutions as well as companies that provide infrastructure for digital assets such as energy and mining.

Commenting on the launch of the ETF, Grayscale Investments CEO Michael Sonnenchin said that the new ETF would expand the company’s mandate.

He added that Grayscale is proud of its ability to bring the ETF to market, and added:

This product builds on our historical strengths, while beginning the next phase of our development as an asset manager that helps investors build portfolios that can stand the test of time.

Dave Gideon, global head of multi-asset indexes at Bloomberg, commented that GFOF would be the best ETF in the market.

Shortly after the launch last week, Grayscale received word from the Securities and Exchange Commission (SEC) that a proposal to convert its GBTC fund into an ETF could be delayed.

The Securities and Exchange Commission (SEC) has begun procedures to solicit public feedback on whether or not a Bitcoin ETF should be approved, noting that for its part, the SEC still has concerns about the ability of ETFs to protect consumers.

Read also:

The capacity of the Lightning Bitcoin networks reaches an all-time high

Investor Kevin O’Leary Warns Bitcoin Miners…Here’s Why!

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