Grayscale Launches First Equity ETF Tracking New Joint Index With Bloomberg

Grayscale Launches First Equity ETF Tracking New Joint Index With Bloomberg
New York-based Grayscale, which is owned by Digital Currency Group, the parent company of CoinDesk, has launched the first equity exchange-traded fund (ETF) tracking the Bloomberg Grayscale Future of Finance (BGFOF) index.Grayscale, which has $38.2 billion in assets under management, said the fund will be administered by the U.S. Bank and trade under the ticker GFOF. Foreside Fund Services, LLC, is the ETF’s distributor.The BGFOF index was launched in January in conjunction between the two firms and tracks the performance of 22 financial services companies in the digital economy. The list of companies includes Silvergate Capital (SI), PayPal (PYPL), Coinbase…