Grayscale Makes an ETF Move
US-based major cryptoasset management firm Grayscale Investments launched its first equity exchange-traded fund (ETF) as they aim to increase its exposure to this type of investment vehicle.
The Grayscale Future of Finance ETF will track the investment performance of the Bloomberg Grayscale Future of Finance index.
The index was launched last month with an initial basket of 22 companies. It covers companies that are classified under the following three pillars:
Financial Foundations which include asset managers, exchanges, brokerages, and wealth managers engaged in the enablement of the digital economy;Technology Solutions which comprise organizations providing tech to facilitate the digital economy through data and processing;Digital Asset Infrastructure which includes companies directly engaged in mining, energy management, and other activities that power the digital asset ecosystem.
“This product draws upon our historical strengths, while kicking off the next stage of our evolution as an asset manager that helps investors build portfolios that can stand the test of time,” Michael Sonnenshein, CEO of Grayscale Investments, said, adding that “the future of finance demands a much broader mandate” than they have now.
Grayscale selected US Bank National Association as the ETF’s administrator and service provider, and financial services company Foreside will serve as its distributor.____Learn more: – Crypto Investment Trends in 2022: Brace for More Institutions and Meme Manias- 5 Key Trends to Watch in 2022 According to Grayscale CEO
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