Grayscale Investments Eyes Towards European Expansion

• Ayushi Abrol
• September 07, 2022

Leading digital asset management services provider, Grayscale Investments is all set to expand its operations in Europe to unleash the potential of the burgeoning crypto industry in the region. It is not a secret for us that cryptocurrencies have entered mainstream business with constant support from industry leaders and retail investors. With an intent to cater to the requirements of the growing institutional crypto cluster within the European market, Grayscale Investments is looking forward to widening the portfolio of its offerings dedicated to crypto fans.

The news about the firm’s upcoming European venture was shared by Grayscale CEO, Michael Sonnenshein in an interview with popular media portal Bloomberg on Tuesday. The spearhead revealed that the team is brainstorming with its local partner firms to chalk out a well-directed launch plan for the said purpose. Interestingly, as of now, the company has not settled upon the names of exchanges and countries, within the EU, where it will roll out its services during the initial phase. However, Grayscale has planned to run pilot tests across multiple markets in the region fetching profitable results for the brand.

Going further, Michael emphasized that though the European Union is a big unified cluster, they do not visualize the entire EU market as a single ecosystem. He added that Grayscale would lay its efforts in understanding the behavior of investors while also paying heed to the regulatory setup before entering the market. The team will achieve its objective in a systematic way by considering all the facts and figures related to the financial hubs where the product launch will take place in the future.

With its long experience in the asset management niche and rigorous urge to offer best-in-class services to the customers, Grayscale has managed to win the trust of investors. It serves as one of the world’s largest fund managers for crypto investments with more than $35.7 billion locked in the AUM category. The Grayscale Bitcoin Trust, represented by the ticker symbol GBTC, has pooled nearly $25.8 billion in the same category. The platform’s newly launched smart contract fund that excludes Ethereum has managed to fetch $3.7 million under AUM.

Here’s a look at our 14 single asset crypto investment funds as of 4/25/2022.
AUM and other stats on all Grayscale products are updated daily on our website: https://t.co/1WBt5qD8Zo$BAT $BCH $BTC $ETC $ETH $FIL $LINK $LPT $LTC $MANA $SOL $XLM $ZEC $ZEN pic.twitter.com/ELHwldtB7r

— Grayscale (@Grayscale) April 25, 2022

The company is striving to transform its Grayscale Bitcoin Trust (GBTC) into a spot exchange-traded fund or ETF. They are looking forward to getting a positive nod from the Securities and Exchange Commission for the project. Presently, the United States market does not have a spot ETF. However, many firms, including Grayscale, are adamant to come up with their product and earn the early-bird benefits from the sector. The team at Grayscale is likely to take legal action against the SEC if the financial watchdog denies its application for the ETF project.   

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