This article comes fromDecrypt, original author: Jeff John Roberts

Odaily Translator | Nian Yin Si Tang

Summary:

This article comes from

, original author: Jeff John Roberts

Odaily Translator | Nian Yin Si Tang

secondary title

Summary:

- Grayscale launched a new ETF that includes a basket of 22 cryptocurrency-related companies.

- This ETF has started trading on the NYSE under the symbol GFOF.

Encrypted asset management giant Grayscale Investments (Grayscale) is expanding into traditional stock markets.

On Wednesday, Grayscale announced the launch of the "Grayscale Future of Finance ETF," which will hold a basket of stocks consisting of 22 listed companies "deeply plowed" in the cryptocurrency industry. These companies include payments and technology companies such as PayPal and Block (formerly Square), as well as pure-play crypto companies like Coinbase and investment institutions like Silvergate Capital, so they are more similar to traditional ETFs.Here are the ETF's largest holdings:。

According to a spokesperson for Grayscale, the fund does not include stocks in companies such as Tesla or MicroStrategy because these companies simply hold bitcoin on their balance sheets or accept bitcoin as a means of payment.ETFs, short for "exchange-traded funds," are a popular type of investment that allow people to buy a commodity or a basket of stocks (such as the S&P 500) as shares with relatively low management fees. As such, the new Grayscale ETF is a way for investors to buy a single stock to bet on the performance of a large number of various companies working on the crypto economy."While Grayscale has worked hard to establish itself as a global leader in digital currency investing, the future of finance requires a broader mandate," said Michael Sonnenshein, CEO of Grayscale Investments.

The new Grayscale ETF has started trading on the New York Stock Exchange under the symbol GFOF. A company called Volt Equity in October last yearlaunched a similar productGrayscale had already been preparing to launch a new ETF. In late January of this year, Bloomberg and Grayscale Investments

Co-launchA new digital asset-based index "BGFOF" (Bloomberg Grayscale Future of Finance Index) was launched. The index tracks 22 companies related to digital assets, financial technology, which are expected to make a significant contribution to the growth of the digital economy in the next two years, and the companies representing the "future of finance" are classified according to three key pillars: financial Fundamentals, digital asset infrastructure and technology solutions, this covers market segments such as payment, trading, asset management, hardware, blockchain/tech or mining companies.The launch of the new ETF, which focuses only on crypto-related companies, comes as Grayscale struggles with the US SEC’s rejection of its Bitcoin spot market ETF application

. Grayscale said it may sue over the refusal, calling it arbitrary, especially if the U.S. SEC approves a more complex version of a bitcoin ETF tied to the derivatives market.send a letterThis all has an impact on the price of GBTC, Grayscale's core product. In theory, the trust should follow the price of bitcoin, but in recent weeks, GBTC has seen

More than 25% discount

In addition to Grayscale's own efforts, Coinbase, another giant in the encryption field, also announced in December last yearpostsend a letter

The US SEC urged it to approve asset management company NYSE Arca's application to convert GBTC into an ETF.