Grayscale Continues to Bolster Crypto ETF Team

Nicholas Pongratz
·1 min read

BeInCrypto –

Grayscale Investments LLC is building up the team behind its cryptocurrency exchange-traded fund (ETF), although the SEC is unlikely to approve one this year.

To drive its efforts in converting the $25 billion Grayscale Bitcoin Trust (GBTC) into an ETF, Grayscale hired David LaValle as its global head of ETFs. Besides acquiring the former CEO of custom index provider Alerian, Grayscale is looking to fill at least ten other ETF-related roles.

Grayscale committed

Grayscale CEO Michael Sonnenshein previously said the asset manager is “100% committed” to the conversion. In fact, he reiterated that ETFs are the intended final products of all of Grayscale’s cryptocurrency-based trusts. If converted, GBTC would become the third-largest commodity ETF. Compared with global commodity exchange-traded products, GBTC would rank second with $34 billion in AUM, behind only SPDR Gold Trust (GLD).

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