Fun

Grayscale Launches European ETF While Urging SEC to Approve GBTC Conversion Into Spot Bitcoin ETF

News Feed - 2022-05-17 07:05:52

Grayscale Launches European ETF While Urging SEC to Approve GBTC Conversion Into Spot Bitcoin ETF


Grayscale Investments has announced the launch of an exchange-traded fund (ETF) in Europe. The company’s Future of Finance UCITS ETF will list on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. Grayscale Launches ETF in Europe


Grayscale Investments, the world’s largest digital asset manager, announced Monday the launch of its first European exchange-traded fund (ETF) called Grayscale Future of Finance UCITS ETF (ticker: GFOF). It will list on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra, the company said.


The announcement details: GFOF UCITS ETF tracks the investment performance of the Bloomberg Grayscale Future of Finance Index and seeks to offer investors exposure to companies at the intersection of finance, technology, and digital assets.


UCITS ETFs are products domiciled in European markets that are subject to the Undertakings for the Collective Investment in Transferable Securities regulation.


The GFOF UCITS ETF is Grayscale’s second ETF. The first, announced in February, is listed in the U.S. in partnership with Bloomberg. It also tracks the investment performance of the Bloomberg Grayscale Future of Finance Index.


“We announced our first ETF earlier this year in partnership with Bloomberg as part of the expansion of our business,” said Grayscale CEO Michael Sonnenshein. “We’re thrilled to be expanding our offering in Europe through the UCITS wrapper.”


Meanwhile, Grayscale is trying to convince the U.S. Securities and Exchange Commission (SEC) to approve the conversion of its flagship product, the Grayscale Bitcoin Trust (GBTC), into a spot bitcoin ETF. GBTC currently has $19.2 billion in assets under management.


The company recently had a private meeting with the SEC to discuss its application, according to CNBC. The asset manager told the regulator that turning its Bitcoin Trust product into a NYSE-traded ETF would broaden access to bitcoin and enhance protections while unlocking up to $8 billion in value for investors.


So far, the SEC has not approved any spot bitcoin ETF. The deadline for the securities watchdog to either approve or reject Grayscale’s application is July 6. “The SEC is discriminating against issuers by approving bitcoin futures ETFs and denying bitcoin spot ETFs,” Grayscale previously said. Tags in this story Bitcoin, Crypto, Cryptocurrency, ETF, european etf, exchange traded fund, GBTC, grayscale, grayscale bitcoin ETF, Grayscale ETF, grayscale europe, Grayscale Investments


What do you think about Grayscale launching an ETF in Europe while trying to convince the SEC to approve its spot bitcoin ETF application? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. American Financial Infidelity Report: 2 out of 5 Survey Respondents Hid Their Crypto Purchases FINANCE | 2 days ago Public Consultations Reveal Positive Interest in Bank of Israel’s Digital Shekel FINANCE | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleChina Backed Publication: Terra LUNA Crash Vindicates Country’s Ban on Crypto-Related Activities Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

News Feed

Turner Wright3 hours agoFTX execs who pleaded guilty are potential witnesses in Sam Bankman-Fried’s criminal caseAccording to reports from the courthouse, Assistant U.S. Attorney Danielle Sassoon named Caroline Ellison
Decentralized Exchanges That Use Automated Market Makers Now Represent 93% of the Market
Decentralized Exchanges That Use Automated Market Makers Now Represent 93% of the Market A recent report by Consensys says the surge in decentralized exchange (D
Crypto the ‘hardest thing’ in software history — Consensys CEO
Ezra Reguerra10 hours agoCrypto the ‘hardest thing’ in software history — Consensys CEOConsensys CEO Joseph Lubin told Cointelegraph that crypto might be the “hardest thing” in software history in terms of pote
PureVPN Can Help Crypto Users Stay Secure and Access International Exchanges
PureVPN Can Help Crypto Users Stay Secure and Access International Exchanges sponsored Crypto users access their wallets and exchanges day in and day out and making sure it remains
Russia Busts Revil Ransomware Group on US Request, Arrests 14 Members
Russia Busts Revil Ransomware Group on US Request, Arrests 14 Members Russian law enforcement agencies have dismantled the notorious hacking group Revil, believed to be behind rans
Nearly $1 Billion Poured Into Egypt’s Forex Market — Local Currency Now World’s Worst Performing Currency in 2023
Nearly $1 Billion Poured Into Egypt"s Forex Market — Local Currency Now World"s Worst Performing Currency in 2023 The Egyptian central bank recently claimed that its decision to
Circle announces Solana programmable wallets, gas station
Ana Paula Pereira7 hours agoCircle announces Solana programmable wallets, gas stationCircle is adding support to the Solana blockchain, enabling integration across its Web3 features in two phases.2119 Total views27 Total
Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts
Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts The Argentinian Tax Authority (AFIP) will now be able to confiscate the assets that taxpay
Biggest Movers: MATIC, SOL Move Towards 4-Month Highs on Saturday
Biggest Movers: MATIC, SOL Move Towards 4-Month Highs on Saturday Polygon rallied to its highest point in nearly four months on Saturday, as the token climbed to the $1.00 mark to
NH Governor Signs Executive Order to Bring ‘Regulatory Certainty’ to Cryptocurrency Industry
NH Governor Signs Executive Order to Bring "Regulatory Certainty" to Cryptocurrency Industry The governor of the U.S. state of New Hampshire has signed an executive order establish
Web3 dev platform Mirror World launches first gaming rollup chain on Solana
Zhiyuan Sun8 hours agoWeb3 dev platform Mirror World launches first gaming rollup chain on SolanaThe software development kit allows Solana games to settle "millions of requests" during game sessions and settle
BlackRock Bitcoin ETF records biggest inflow day since March at $523M
Tom Mitchelhill7 hours agoBlackRock Bitcoin ETF records biggest inflow day since March at $523MThe BlackRock iShares Bitcoin Trust ETF has witnessed over half a billion dollars of inflows on the same day a flurry of spot