Crypto investment heavyweight Grayscale is reportedly going to widen the scope of its operations by introducing a new crypto-linked exchange-traded fund (ETF) in Europe.

Specifically, Grayscale reportedly issued its official announcement regarding its first European ETF, dubbed “Grayscale Future of Finance UCITS ETF”, on May 16th. Trading for the ETF will be available beginning May 17th. 

The new investment vehicle is reportedly going to be listed on the high-profile stock exchange platforms in the EU, including the London Stock Exchange, Borsa Italiana together with Deutsche Börse’s electronic trading platform Xetra. 

Listed under the ticker symbol GFOF, the ETF will also be passported for sale across Europe.

“An exciting milestone: Announcing our first European ETF, Grayscale Future of Finance UCITS ETF — listing on London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.”

Introduced via a collaborative effort with Bloomberg, GFOF UCITS ET reportedly seeks to provide tracking for the performance of the Bloomberg Grayscale Future of Finance Index. 

Bloomberg and Grayscale teamed up to roll out the index in January this year, with a primary target of tracking the digital economy, concentrating on the three main directions of technology, finance, and digital assets.

per the announcement, the new ETF will reportedly cover firms with a direct association with cryptocurrency mining, energy management, and different activities across the virtual asset ecosystem. 

According to the official information about the fund, the ETF tracks firms like the crypto-friendly trading app Robinhood, PayPal, Block, Coinbase, Canaan, and others.