Published: 27.04.2022
Article reading time:
2 minutes.
The management of the investment company Grayscale reports that against the background of the expansion of the digital asset market, it is considering the possibility of offering its services to European crypto investors.
Grayscale CEO Michael Sonnenshein believes that the European market has become a competitive space, where issuers are introducing investment vehicles to meet growing demand. The businessman admitted that Grayscale wants to get its share of the market.
The head of the company spoke about meetings with several local partners in the region to discuss the timetable for entering the market. At the same time, Sonnenschein did not specify which exchanges or European countries the investment company wants to use to offer its products.
Sonnenschein also did not share information about which offerings the company intends to launch first. The Grayscale executive noted that while the European Union is one, Grayscale sees the EU market as consisting of several markets of individual countries and regions.
“We will be very thoughtful and methodical with each of the financial centers that we launch because we recognize differences in investor behavior as well as regulatory regimes,” Sonnenschein explained the company’s strategy.
The businessman made his statement after the company made a new attempt to get approval from the Securities and Exchange Commission (SEC) to convert the Bitcoin Grayscale Trust (worth approximately $40 billion) into an ETF. It is worth noting that US regulators are now considering whether to approve Bitcoin spot ETFs. Therefore, the study of exchange-traded funds for cryptocurrency-related derivatives is postponed to July 2022.
Source: Bits
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