Cryptoasset-based exchange-traded funds (ETFs), have been touted for years among the circles of interested parties in cryptoassets.
One could say that Canada has cornered the market with the recent announcement of three ETF’s paired to Bitcoin (BTC), but with the powerhouse of the United States seeking to adopt an ETF soon, this could be short-lived. In fact, the adoption is so likely to be swift that Grayscale Investments, a dominant investor in the crypto markets recently, has jumped the gun and is actively recruiting an ETF team prior to announcement.
It would seem to be an optimistic move by Grayscale. Many have attempted approval from the Securities and Exchange Commission (SEC) to provide America’s first ETF, such as Bitwise and Van Eck. It looked promising for only to fall short of acceptance.
Grayscale has totally committed to recruitment for the company’s ETF department with at least nine individual positions available at present. The positions are available on LinkedIn, this shows confidence by Grayscale despite having the necessary clearance to operate an ETF.
Director of ETF Research for CFRA Research, Todd Rosenbluth, has confirmed in a recent interview that competitive companies are seeking to be the first to launch an ETF for Bitcoin.
Michael Sonneshein the Chief Excecutive Officer of Grayscale – has refused to supply any further details of the company’s direction and ETF plans. He continues to state that they are not able to reveal any further information beyond the scope that Grayscale will continue to adopt systems to fulfil customer needs.
Grayscale seems to be at the forefront of a potential U.S based Bitcoin or crypto ETF, with many industry leaders and analysts believing it is only a matter of time with Grayscale in prime position. There is an array of placements available on the Grayscale LinkedIn page including ETF Market Maker Partnership Manager, ETF Finance Support Manager and ETF Development and Redemption Specialist.