Grayscale Makes Fresh Push for European Expansion

Grayscale’s CEO, Michael Sonnenshein, has announced the asset manager’s plans to expand across Europe.

The European market has become a competitive space as issuers launch investment vehicles to meet growing demand. Grayscale wants a piece of the pie, too.

Europe Expansion

European Enlargement According to the Bloomberg report, Grayscale CEO Michael Sonnenshein announced that he has spoken to several domestic partners in the region. However, it is not yet clear which European exchanges or countries they want to join to offer the products. In addition, it is not yet clear how the company will make an offer.

In the interview, Sonnenshein said that although the European Union is a unified body, Grayscale does not see the European market as a single market.

Sonnenshein: “Instead, because we know the divergence of investor behavior and attitudes and regulatory regimes, we will ultimately be very thoughtful and very systematic about each of the financial centers and financial centers we launch.”

It came a few days later for Grayscale to seek approval from the Securities and Exchange Commission (SEC). Grayscale is being considered to be converted into an NFT worth $40 billion.

Grayscale’s Gambit

US regulatory watchdogs are debating whether to approve exchange-traded funds to hold Bitcoin instead of crypto-linked derivatives for the first time. The SEC said it would decide on Grayscale’s application by July this year.

Things did not go well in the USA. While there is a physical BITCOIN-EFT expectation in the country, Sonnenshein is determined to get approval from the SEC, and they seem to use all kinds of options for this.

Europe, on the other hand, has witnessed a number of issuers launch crypto ETPs in recent months. Last month, more than 70 crypto ETPs received regulatory approval with a total assets of $7 billion in the old continent. The security and convenience of crypto risks through regulated infrastructure has proven highly attractive to retailers as well as institutional investors in the region.

Related : Bitcoin Holders Hold Tight On BTC As $40k Is The New Level Of Resistance

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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