Grayscale to expand crypto fund offering into Europe
Digital asset manager Grayscale Investments is planning to expand its product offerings into Europe to tap into growing institutional demand for cryptocurrencies in the region, CEO Michael Sonnenshein confirmed Tuesday.
In an interview with Bloomberg, Sonnenshein said the company was holding meetings with local partners to discuss how Grayscale’s suite of products would be rolled out in the region. The company hasn’t made any definitive plans regarding which exchanges and countries would be supported initially, though Grayscale plans to launch pilot tests in several markets across the European Union.
Sonnenshein explained that Grayscale would be looking at investor behaviors and local regulations in determining its product rollout. “Although the EU is unified, we don’t view the entire European market as in fact one market,” he said. “Instead we’re going to be very thoughtful, very methodical about each of the financial centers and financial hubs that we ultimately launch in.”
Grayscale is by far the world’s largest crypto fund manager, with over $35.7 billion in assets under management as of Monday. The Grayscale Bitcoin Trust, which trades under the ticker symbol GBTC, has amassed nearly $25.8 billion in assets. Meanwhile, the recently launched smart contract fund that excludes Ethereum already has more than $3.7 million under management.
Here’s a look at our 14 single asset crypto investment funds as of 4/25/2022.AUM and other stats on all Grayscale products are updated daily on our website: https://t.co/1WBt5qD8Zo$BAT $BCH $BTC $ETC $ETH $FIL $LINK $LPT $LTC $MANA $SOL $XLM $ZEC $ZEN pic.twitter.com/ELHwldtB7r
Related: Institutional investment flows out of ETH and into competing L1 altcoins
Grayscale has been trying to
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