Grayscale is among those enterprises which don’t want to let the opportunity of crypto adoption slip from their hands. Crypto adoption is neatly taking over the mainstream media and the attention of the investors and traders from all over the globe as Bitcoin futures ETF has been approved recently by the Securities and Exchange Commission and is trading actively on New York Stock Exchange. Grayscale has filed for an application that reflects the approval of a blockchain stocks ETF allowing the company to tap into the most elegant section of the market while investing in cryptocurrencies through the most secure avenue available.
This blockchain stocks ETF will be recording the overall performance of various crypto companies rather than the digital assets themselves and will allow the investors to make an investment into these companies directly. This new product, when approved, will be in charge of tracking the Bloomberg index via Eric Balchunas. The name of the fund will be ‘futures of finance,’ and it will be providing investors with enough exposure to the blockchain industry and companies actively taking part in its development and maintenance.
Grayscale’s Role in Crypto Adoption
This index is designed by Bloomberg specifically for those investors who seek securities that are either related to blockchain-oriented companies and technology or to the digital assets themselves. Some of the main interactions included within the index are the companies that are in the development of blockchain, maintenance, and interaction with crypto mining and digital asset investment. Passive management will be used by the fund, which will only track the index. This is an incredible move that allows the investors to get exposure to the fund without having to pay additional fees and other rollout costs.
Grayscale is previously known for releasing these kinds of products for their investors, and this one is no different. It is just a strategy of Grayscale to widen its market reach and offer some of the products for users that are interested in the crypto market. Recently, Grayscale has filed a very strategic application before the Securities and Exchange Commission for the sake of converting the currently existing Bitcoin fund of the company into an exchange-traded fund. The possible hearing date is 24th December, and then a final decision on this application will be announced.