On Monday, Grayscale made the announcement that it would be launching a new cryptocurrency ETF, and added that the ETF would be called the Grayscale future of finance UCITS ETF. Grayscale is introducing a cryptocurrency exchange-traded fund (ETF) for the European market for the very first time. The ticker symbol for Grayscale’s new exchange-traded fund (ETF) would be GFOF.
The Most Important Aspects Of The Announcement
All three of these exchanges are listed in an official statement, and the ETF will trade on all three of them. In addition, the GFOF UCITS ETF is eligible for distribution throughout the entirety of the European Union. The performance of Bloomberg’s GFIF index is replicated by this exchange-traded fund (ETF). Investors have the opportunity to obtain exposure to firms that are focusing on Web3 through the use of this ETF. These companies that are focused on Web3 are currently ranked as one of the top three categories within the rapidly expanding cryptocurrency industry. There are also the projects in the DeFi space, in addition to the providers of digital asset infrastructure. ALSO READ Coins Capital Review – Is Coins Capital Fraud or Secured? Ripple XRP could hit $0.5 as bulls seek more Demands. Report shows that : More than 100k Cubans are now using crypto Now Michael Sonnenshein, CEO of Grayscale, offered his thoughts while discussing the company’s recently introduced exchange-traded fund (ETF). He stated that “this product epitomizes our growth as an asset management firm and is built on our history of helping investors have an investment portfolio that can make them proud in the future.” It only makes sense for us to establish this new ETF as part of our effort to broaden our global coverage.
Increasing the Size of the World’s Economy Through the Use of Digital Assets
David Lavalle, a senior official at Grayscale, was quoted as saying that the company “remains persuaded that the digital asset space would lead the route towards increasing and developing the global economy.” He continued by saying that the GFOF UCITS ETF would provide investors in Grayscale with the opportunity to obtain investing exposure to Web3 firms that were transforming the financial infrastructure around the world. Hector Mcneil, the Chief Executive Officer of HanETF, made the following statement in his remarks: “crypto-related tech inventions have exploded in the last couple of years, disrupting the world’s financial economy.”
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He went on to say that they had made financial systems more inclusive, accessible, and transparent in addition to simplifying them. The cooperation with Grayscale, we are confident, is the next step in giving European investors with access to ETF investing exposure.”
SEC Approval of Grayscale’s Bitcoin ETF Spot is still a goal.
Grayscale isn’t giving up on the idea of converting its GBTC ETF into a BTC ETF, despite the debut. As Grayscale’s CEO recently stated in an interview, there is no reason for the sec not to approve a spot BTC ETF as long as it can approve a futures BTC ETF. The lawyers for Grayscale included the following statement in a recent letter that they sent to the US financial authority. It goes as follows: “we are persuaded that the Teurcrim order further lends credence to the point we underlined in one of our previous letters, dated November 29, 2021.” We stated that there is no justification for authorizing a BTC futures ETP without also approving a spot BTC ETF in our previous article. In an unexpected turn of events, CNBC recently reported that Grayscale had met with executives from the SEC in an effort to convince the regulators to give their blessing to its proposal to launch a spot Bitcoin exchange-traded fund (ETF). CHECK OUT https://www.gistlobby.com.ng/category/mlm-or-forex-reviews/
