Grayscale Investments Plans European Expansion

Grayscale Investments Plans European Expansion

Grayscale Investments, the world’s largest digital asset manager, is expanding into Europe. “We’re going to be very thoughtful, very methodical about each of the financial centers and financial hubs that we ultimately launch in,” said the CEO. Grayscale Entering Europe

The world’s largest digital asset manager, Grayscale Investments, is getting ready to expand into Europe, CEO Michael Sonnenshein told Bloomberg Tuesday.

He explained that decisions have yet to be made regarding which exchanges, which products, and which countries Grayscale will target first. The executive revealed that he has been meeting with various local partners to discuss the launch timeline, adding that the company plans to run a series of pilot tests in different markets.

“Although the EU is unified, we don’t view the entire European market as in fact one market,” Sonnenshein described, elaborating: Instead we’re going to be very thoughtful, very methodical about each of the financial centers and financial hubs that we ultimately launch in, because we recognize the differentiation of investor behaviors and attitudes, and of regulatory regimes.

There are more than 80 exchange-traded crypto products listed in Western Europe, the publication conveyed. However, in the U.S., the Securities and Exchange Commission (SEC) has yet to approve a spot bitcoin exchange-traded fund (ETF).

Grayscale has filed with the SEC to convert its flagship bitcoin trust (GBTC), which has about $25 billion in assets under management, into a spot bitcoin ETF. The SEC is expected to make a decision in July. Sonnenshein recently said that the securities regulator refusing to approve bitcoin spot ETFs is “potentially grounds for an Administrative Procedure Act violation.” Tags in this story Bitcoin, bitcoin spot etf, bitcoin trust, Crypto, Cryptocurrency, GBTC, grayscale, grayscale europe, grayscale european expansion, grayscale expanding europe, Grayscale Investments, greyscale, Michael Sonnenshein, SEC

What do you think about Grayscale expanding into Europe? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Central African Republic Has Adopted Bitcoin as Reference Currency — Office of the Presidency FEATURED | 6 hours ago 80% of Institutional Investors Expect Crypto to Overtake Traditional Investments, Survey Shows FEATURED | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCropBytes Games Celebrates a Milestone Unheard of, ‘4 Years of Sustainable Web3 Gaming’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse