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

Grayscale in Europe

The world’s largest digital wealth manager, Grayscale Investments, is preparing to expand into Europe, CEO Michael Sonnenshein told Bloomberg on Tuesday.

He explained that decisions still need to be made about which exchanges, which products, and which countries Grayscale will target first. The manager revealed that he has met with various local partners to discuss the rollout timeline, adding that the company plans to run a series of pilot tests in different markets.

“Although the EU is united, we do not consider the entire European market as one market,” explains Sonnenshein and specifies:

Instead, we will take a very thoughtful and methodical approach to each of the financial centers and financial centers where we ultimately launch, because we recognize differences in investor behavior and attitudes and regulatory systems.

More than 80 exchange-traded crypto products are listed in Western Europe, the publication said. However, in the US, 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 around $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’s refusal to approve bitcoin spot ETFs is “a potential ground for violation of the Administrative Procedures Act.”

tags in this story

Bitcoin, bitcoin spot etf, bitcoin trust, Crypto, Cryptocurrency, GBTC, Grayscale, Grayscale Europe, Grayscale European Expansion, Grayscale Expanding Europe, Grayscale Investing, Grayscale, Michael Sonnenshein, SEC

What are your thoughts on Grayscale’s expansion into Europe? Let us know in the comments section below.

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economics and cryptography.

photo credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. 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.



What's your reaction?
Happy0
Lol0
Wow0
Wtf0
Sad0
Angry0
Rip0
Leave a Comment