Grayscale Investments Plans European Expansion – Grayscale Investments, the world’s largest digital asset management, is preparing to expand into Europe, according to CEO Michael Sonnenshein. Grayscale has yet to make decisions about which exchanges, products, or countries it will target first, according to him.
According to the executive, he has been meeting with several local partners to discuss the launch time frame, and the company aims to do a series of pilot tests in other areas.
“Despite the fact that the EU is unified, we do not regard the entire European market as one market,” Sonnenshein explained, adding:
Instead, because we know the differences in investor behaviors and attitudes, as well as regulatory regimes, we’ll be very cautious and methodical about each of the financial hubs and financial centers where we eventually launch.
Also Read: Nepal Shuts Down Crypto Websites And Apps – Warns About Engaging in Crypto Activities
According to the publication, there are over 80 exchange-traded crypto goods listed in Western Europe. The Securities and Exchange Commission (SEC) in the United States, however, has yet to approve a spot bitcoin exchange-traded fund (ETF).
Grayscale Investments Plans European Expansion – Grayscale has filed paperwork with the Securities and Exchange Commission to transform its flagship bitcoin trust (GBTC), which manages around $25 billion in assets, into a spot bitcoin ETF.
The Securities and Exchange Commission is expected to announce a decision in July. The Securities and Exchange Commission’s refusal to approve bitcoin spot ETFs, according to Sonnenshein, is “possibly grounds for an Administrative Procedure Act violation.”
