Grayscale Looks Forward to Entering European Market

Grayscale Investments, the world’s largest digital asset manager, is set to expand beyond North America, as it targets Europe. According to the Financial Times, the fund manager has been holding a series of meetings with potential partners to materialize the plans.

“We’re conducting some research, meeting with different organizations and different partners to determine what is going to be the best way for Grayscale to bring a lot of that accessibility, a lot of the insights we have to European investors,” Michael Sonnenshein, the Chief Executive Officer of the company, told the Financial Times. In addition, he wants to bring what they learned in the US to Europe with the manoeuvre.

Sonnenshein added: “We’re exploring a lot of European financial hubs to really think about what is going to be the right approach for us and how best to bring Grayscale to Europe.”

In an interview with the Financial News, Grayscale’s CEO expressed concern about 'double standards' in cryptocurrency regulation. According to him, it is “very difficult to understand” why the SEC continues to reject spot ETF proposals despite being comfortable with futures ETFs.

Delaying Spot Bitcoin ETFs

In February, the US Securities and Exchange Commission (SEC) announced that it was delaying Grayscale’s proposed ETF, a spot bitcoin exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term-traded fund. The SEC is concerned about how Grayscale will fend off manipulation and fraud.

Earlier in 2021, Grayscale asked to convert its GBPTC shares into a spot bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term ETF. This is the second time the SEC is delaying its decision on Grayscale’s application. The SEC has already rejected several ETF applications from WisdomTree, Krypton, Fidelity and SkyBridge.

In October 2021, the SEC did approve 2 bitcoin future-based funds: ProShares Bitcoin Strategy ETF and Valkyrie Bitcoin Strategy ETF. The SEC, to this date, has not approved a spot bitcoin ETF. Fidelity was able to launch its spot bitcoin ETF in Canada, Fidelity Advantage Bitcoin ETF (FBTC).