Grayscale is keeping up with the rapidly developing market by giving its clients exposure to blockchain-related companies
The grayscale fund management company has planned for market expansion by adding a new product that will track the Bloomberg Index via Eric Balchunas. The new fund will be called Futures of Finance and will act as a tool of exposure for clients who are willing to invest in blockchain-related stocks.
The index designed by Bloomberg is made up of securities related to the blockchain industry or digital assets. Companies in the index are involved in blockchain development, operations with digital assets and mining.
The fund will use passive management which will only replicate the index. Such a strategy allows exposure to the fund without paying additional fees and roll costs.
This is not the company’s first step in expanding its business. Previously, Grayscale filled an SEC application to convert its currently existing Bitcoin fund (GBTC) into an exchange-traded fund. The possible hearing will take place on Dec. 24.
Grayscale has lost a large chunk of its potential clients due to the approval of the first Bitcoin ETF in the United States. Currently, Grayscale’s fund is trading with a negative premium of 20%, which means that the fund is underperforming against its underlying asset: Bitcoin.
