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Crypto investment giant Grayscale has burst into Europe, opening its first ETF

Crypto investment giant Grayscale is scaling up and launching a new cryptocurrency-related exchange-traded fund (ETF) in Europe. The first European ETF is listed on the electronic trading platform Deutsche Börse Xetra , the European stock exchange Borsa Italiana and the London Stock Exchange and is called Grayscale Future of Finance UCITS ETF.

Cryptocurrency mining companies, energy managers, etc. are part of the ETFs.

Cryptocurrency applications Robinhood, PayPal, Block, Coinbase, Canaan and others are tracked by the ETF. 

ETF Grayscale head David LaValle said: “Thanks to the GFOF UCITS ETF, European investors now have access to companies that play a key role in the evolution of the global financial system.”

Grayscale Investments is a large investment fund that manages crypto assets for the benefit of savers. It was founded in 2013 as a branch of Digital Currency Group.

The company is currently the largest cryptocurrency holding fund in the world . According to the company, as of May 2022, it manages over $26 billion in digital assets, of which GBTC accounts for over $18.7 billion.

Grayscale Investments has become the most prominent Bitcoin holder thanks to such a strong investors’ interest in Bitcoin.

According to the Bitcoin Treasuries website, the company owned nearly 655,000 BTC in May 2022.

The company’s main project is Grayscale Bitcoin Trust (GBTC), which is functionally similar to an ETF, which is backed by bitcoin. The company’s main development strategy was the transformation of GBTC into an exchange-traded fund (ETF). 

A trust is a legal structure where any assets of value can be added: money, securities, property, cryptocurrency. 

The shares of the trust can be traded on the stock or over-the-counter markets. That is, the buyer invests in the underlying asset indirectly. Investing in the trust makes sense only for large investors and only for a long time, not caring about the legal field, investing in trust solves this problem. In addition, you can not worry about the safety of the storage of large amounts of cryptocurrencies, as well as the payment of taxes, the GBTC project is a traditional asset with an accessible scheme for paying taxes.