Grayscale to List a Crypto ETF in Europe (Report)

Grayscale, the world’s leading digital asset manager, will launch an exchange-traded fund in Europe. The product will track the “Bloomberg Grayscale Future of Finance Index” and will be available in the UK, Germany, Italy, and the USA.

Grayscale’s First ETF for Europe

Michael Sonnenshein, the CEO of the company, stated that it is expanding its services to Europe. He did not disclose the exact nature of the products.

A recent report from Reuters states that Grayscale will launch a cryptocurrency ETF to track the “Bloomberg Grayscale Future of Finance Index.” This index tracks the performance of a variety of crypto companies, including exchanges, miner, asset managers and brokers.

The product will initially be listed on the London Stock Exchange and Germany’s Deutsche Borse Xetra. The fund will be available on May 17, as this is the first European launch by the American digital asset manager.

Sonnenshein stated, “The digital economy… is primarily being driven by the proliferation of digital assets.”

Grayscale is one of the companies that are seeking to launch a spot Bitcoin ETF here in the United States. It applied to the SEC for approval in 2021 to transform its Grayscale Bitcoin Trust into an ETF Spot Bitcoin. The regulator has yet to approve it despite the expiration of the 75-day review period.

Rejecting the Bitcoin ETF Could Lead to a Lawsuit

Grayscale appears determined to launch an exchange-traded fund that tracks the performance of Bitcoin in the US. A month ago, CEO Sonnenshein stated that the company was ready to make whatever it takes to achieve this goal. Grayscale was asked if he could sue the SEC.

“I believe all options are available.”

In December 2021, Craig Salm, the Chief Legal Officer, argued that a regulator’s decision to reject the product might be illegal. The Commission may have a clear vision about ETFs but should show a reasonable likelihood.

Grayscale’s filing will be decided by the watchdog in July. Sonnenshein encouraged all parties to the process to share their opinions with one another and reach an agreement that is mutually beneficial.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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