Grayscale Looks to Enter Into European Crypto Fund Market

Leading digital asset manager Grayscale is looking to expand its crypto product offerings into Europe, according to a fresh report from Bloomberg. Grayscale Investments, which runs the $30 billion Grayscale Bitcoin Trust (GBTC) is meeting with various local partners to discuss entering the European market, chief executive officer Michael Sonnenshein said. The crypto asset manager is also willing to run pilot tests in local markets. As of yet, the firm, however, is yet to decide the countries and exchanges with whom they shall be partnering. Grayscale Entering a Competitive Market Grayscale looks to enter a competitive market with an already slew of European exchange-traded products issued by such companies as VanEck, CoinShares, and 21Shares AG. These products manage more than $7.1 billion worth of assets. The move comes as the United States Securities and Exchange Commission (SEC) prepares to make a vital selection to approve the Grayscale Bitcoin Trust (GBTC) fund in a Bitcoin spot ETF. The regulatory agency has approved four bitcoin futures ETFs but none that invest in the flagship cryptocurrency directly.The post Grayscale Looks to Enter Into European Crypto Fund Market first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Grayscale Looks to Enter Into European Crypto Fund Market appeared first on Cryptoknowmics-Crypto News and Media Platform.