Crypto-asset management company Grayscale has posted nine vacancies to develop its ETF business. This indicates the firm’s intention to launch exchange-traded funds for cryptocurrencies.
Grayscale Company published
on Twitter, link to the company’s job openings page indicating that the firm is looking for ETF specialists. Grayscale has never previously announced its intention to launch an ETF on Bitcoin or other cryptocurrencies, and has not submitted relevant applications to the US Securities and Exchange Commission (SEC).
Among other things, Grayscale is looking for an ETF Creation and Redemption Specialist who will be responsible for managing the sources of pricing and with an understanding of “how to create a basket of digital assets for inclusion in ETFs”. Another vacancy is for the ETF Market Maker Manager who will be tasked with developing new relationships with market makers while maintaining the existing ETFs for the channel.
Applicants for this position require “experience with FINRA, SEC, NYSE, NYSE ARCA, CBOE and / or other securities exchanges, either directly or in collaboration with the Compliance and Legal Department.” Existing Grayscale Trusts are not traded on the NYSE / CBOE platforms, but are sold by investors in OTC markets.
Industry experts believe the Bitcoin ETF, which the SEC has repeatedly rejected applications for, could finally launch in the US this year. As a reminder, the first Bitcoin ETF was launched in Canada in February.
Earlier, JPMorgan analysts warned that if US regulators approve the launch of exchange-traded funds for Bitcoin, this could lead to an outflow of funds from the Grayscale GBTC trust and negatively affect the rate of the first cryptocurrency.