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Is Grayscale Looking to Launch a Crypto ETF?


Recent job postings suggest that the leading digital asset manager could be planning to develop and launch a cryptocurrency exchange-traded fund (ETFs). Grayscale is looking for nine employees for roles focusing on various ETF-related endeavors. 

  • Founded in 2013, Grayscale is a crypto asset manager enabling institutions to receive exposure to numerous digital assets through its funds. The company could be considering developing and launching ETFs as well, at least according to nine key job openings on its careers page. 
  • Among those positions are ETF Authorized Participant Relationship Manager, ETF Compliance Officer, ETF Creation & Redemption Specialist, and ETF Finance Reporting Manager. 
  • Should Grayscale indeed head down that path, the company will most likely face serious backlash from US-based regulators. The Securities and Exchange Commission has rejected dozens of previous applications for Bitcoin ETFs, while others, such as VanEck, withdrew their earlier filings. 
  • In contrast, Canada recently approved two such products. The first one – the Purpose Bitcoin ETF – enjoyed a positive start by accumulating more than $400 million in a few weeks. 
  • Grayscale is already among the most preferred gateways for institutional investors to enter the cryptocurrency space. The company expanded its assets under management by ten-fold last year from $2 billion to $20 billion. 
  • The demand for its products only intensified since the start of the new year, which resulted in fresh records. In the first few months of 2020, Grayscale’s AUM has more than doubled to above $40 billion. 
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