Source: Adobe/Ascannio
Grayscale Investments, a leading US-based crypto asset management company, has launched its first exchange-traded fund (ETF) in a bid to increase its exposure to this class of investment vehicle.
The Grayscale Future of Finance ETF will track the investment performance of the Bloomberg Grayscale Future of Finance Index.
The index launched last month with an initial basket of 3 companies. It encompasses companies that are classified according to the next XNUMX pillars:
- Financial foundations including asset managers, exchanges, brokers and wealth managers committed to enabling the digital economy;
- Technological solutions that include organizations that provide technologies to facilitate the digital economy through data and processing;
- Digital asset infrastructure that includes companies directly involved in mining, energy management, and other activities that drive the digital asset ecosystem.
"This product builds on our historical strengths while launching the next stage of our evolution as an asset manager that helps investors build portfolios that can stand the test of time," said Michael Sonnenshein, director of Grayscale Investments, and He added that "the future of finance requires a considerably broader order" than it currently has.
Grayscale has selected the US National Association of Banks as the ETF's manager and servicing dealer, with financial services firm Foreside to act as dealer.