Grayscale, List ETFs On London, Italy And Germany Exchanges

Grayscale will list the ETF on a European exchange. (photo: doc. pixabay)

JAKARTA - Grayscale will list an exchange trade fund (ETF) on exchanges in Europe consisting of companies representing "Future of Finance". This was announced by the world's largest cryptocurrency asset manager in a statement on Monday, May 16.

The ETF, will be listed on the London Stock Exchange, Italy's Borsa Italiana and Germany's Deutsche Börse Xetra and begin trading on 17 May. This is the first time US-based Grayscale has registered funds in Europe.

This index contains a mix of companies involved in digital currencies including asset managers, exchanges, brokers, technology companies, as well as companies directly involved in cryptocurrency mining.

"For us, the digital economy ... is driven primarily through the proliferation of digital assets," said Grayscale CEO Michael Sonnenshein.

In February, Grayscale launched an ETF in New York to track the same index. It was trading at around $14.69 on March 13, down from nearly $26 on February 1, according to a tracker on the Grayscale website.

Retail trading platform Robinhood, payments firm PayPal and fintech firm Block were the three companies with the index's top holdings as of March 13, the website said.

Cryptocurrencies and crypto-related stocks have been falling in recent weeks, as investors dump riskier assets on concerns about high inflation and major central bank tightening policies. Last week, bitcoin fell to as low as US$25,401.05 (Rp369 million), its lowest reading since 2021.