Grayscale Investments unveils its first equity-based ETF
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The world's largest digital currency asset manager Grayscale Investments, famous for its Grayscale Bitcoin Trust (OTC:GBTC), announced the launch of its first equity-based exchange traded fund.
Grayscale Future of Finance ETF (GFOF) is the issuer's latest unveiling, as the fund seeks to track the performance of the Bloomberg Grayscale Future of Finance Index.
Additionally, the ETF aims to offer exposure to companies and technologies that are shaping the future of finance, such as stocks involved in the digital economy.
David LaValle, Global Head of ETFs at Grayscale Investments, stated: "As we strive to meet investor demand for products that will define the next generation of investment portfolios, we are thrilled to reach this important milestone: a first step in what will be an ongoing strategic expansion of Grayscale's investment offerings that leverage the ETF wrapper." 
LaValle continued: "Through GFOF, investors now have the opportunity to receive exposure to the companies that are pivotal to the evolution of the global financial system."
Moreover, GFOF trades on the New York Stock Exchange, has an expense ratio of 0.70%, and comes with 22 unique holdings.
Grayscales new ETF is led by PayPal Holdings (NASDAQ:PYPL), Coinbase Global (NASDAQ:COIN), and Silvergate Capital Corp. (NYSE:SI), weighted at 9.65%, 8.30%, and 7.97%, respectively.
In other digital crypto news, the U.S. Securities and Exchange Commission has delayed its decision on the Bitwise Bitcoin ETP filing.