Franklin

Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<p class="is-style-lead">GBTC’s issuer added an ETF veteran to its ranks following constructive talks with the Securities and Exchange Commission over approval for spot Bitcoin funds.</p> 
<p>Digital asset giant Grayscale Investments has hired <a href="https://www.linkedin.com/in/john-hoffman-9347513/details/experience/" target="_blank" rel="noreferrer noopener">John Hoffman</a>, a former high-ranking executive at Invesco, to aid its efforts toward bringing America’s first spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETF to market amid growing interest in the world’s top cryptocurrency.&nbsp;</p> 
<p>Hoffman was onboarded as Grayscale’s managing director, head of distribution and partnerships, a strategic role pivotal to growing financial products.&nbsp; He arrived at the firm with nearly two decades’ worth of experience including leading ETFs and Indexed Strategies decisions at Invesco Ltd from 2020 to 2023.</p> 
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   <p lang="en" dir="ltr">JUST IN: 🟠 Grayscale is preparing for its <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> ETF launch with the hiring of Invesco ETF executive as the managing director to head distribution and strategic partnerships.<br><br>It's all set for 🚀 <a href="https://t.co/9lIN5bfvB8" target="_blank">pic.twitter.com/9lIN5bfvB8</a></p>— Bitcoin Archive (@BTC_Archive) <a href="https://twitter.com/BTC_Archive/status/1730583933450932550?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 1, 2023</a>
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<p>The Grayscale addition coincided with a period of considerable anticipation for the U.S. Securities and Exchange Commission (SEC) to approve 13 spot Bitcoin ETF filings from issuers like <a href="https://crypto.news/bloomberg-blackrock-and-grayscale-meeting-with-sec-about-bitcoin-etf-issuance/">BlackRock</a>, <a href="https://crypto.news/bitwise-invest-amends-bitcoin-etf-filing/">Bitwise</a>, <a href="https://crypto.news/van-eck-bitcoin-etf-sec-decision/">VanEck</a>, <a href="https://crypto.news/wisdomtree-makes-an-amendment-to-spot-bitcoin-etf-application/">WisdomTree</a>, <a href="https://crypto.news/sec-accepts-bitcoin-etf-applications-from-blackrock-fidelity-galaxy-digital/">Fidelity</a>, <a href="https://crypto.news/valkyries-mcclurg-expects-spot-bitcoin-etf-approval-in-november-2023/">Valkyrie</a>, <a href="https://crypto.news/sec-spot-bitcoin-etf-applications-nydig-global-x/">Global X</a>, <a href="https://crypto.news/sec-postpones-hashdexs-spot-bitcoin-etf-application/">Hashdex</a> and <a href="https://crypto.news/franklin-templeton-joins-bid-for-spot-bitcoin-etf/">Franklin Templeton</a>.</p> 
<p> You might also like: <a href="https://crypto.news/grayscale-updates-gbtc-agreement-for-first-time-since-2018/"> Grayscale updates GBTC agreement for first time since 2018 </a> </p> 
<p><a href="https://crypto.news/invesco-and-galaxys-spot-bitcoin-etf-listed-on-dtcc-site/">Invesco</a> also submitted its bid for a BTC ETF tied to the asset’s spot price in a joint filing with Galaxy Digital, a firm founded by crypto proponent Mike Novogratz in 2018 when Bitcoin traded below $10,000.</p> 
<p>Grayscale’s hire follows dialogue with the SEC after which the company filed an <a href="https://crypto.news/grayscale-updates-spot-bitcoin-etf-application-after-meeting-with-sec/" target="_blank" rel="noreferrer noopener">amendment</a> to its Bitcoin ETF bid. The firm attempted to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF, crypto.news <a href="https://crypto.news/grayscale-makes-new-attempt-for-spot-bitcoin-etf-approval/" target="_blank" rel="noreferrer noopener">reported</a>.</p> 
<p>Despite securing a court ruling mandating the SEC to review its applications, experts <a href="https://crypto.news/sec-may-refuse-grayscales-bitcoin-etf-despite-court-win/">surmised</a> that America’s securities watchdog may still refuse Grayscale’s filing.</p> 
<p>Michael Sonneshein, CEO of Grayscale, said the SEC had not <a href="https://crypto.news/sec-yet-to-indicate-approval-timeline-says-grayscale-ceo-on-spot-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">disclosed</a> a timeline for approval while industry-wide speculation highlighted January 2024 as the most likely period for concrete decisions on spot Bitcoin ETFs.</p> 
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   <p lang="en" dir="ltr">Okay the window for potential spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> ETF approval is looking like its gonna be between Jan 5 &amp; Jan 10 2024. I spoke with <a href="https://twitter.com/thomasg_grizzle?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@thomasg_grizzle</a> &amp; <a href="https://twitter.com/ScottW_Grizzle?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@ScottW_Grizzle</a> this morning and nailed this call. <a href="https://t.co/sOU950QlXj" target="_blank">https://t.co/sOU950QlXj</a> <a href="https://t.co/y9JYdEpjNH" target="_blank">pic.twitter.com/y9JYdEpjNH</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1730327792066195501?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 30, 2023</a>
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<p> Read more: <a href="https://crypto.news/bitcoin-etf-desire-narrows-grayscale-gbtc-discount-to-8/"> Bitcoin ETF desire narrows Grayscale GBTC discount to 8% </a> </p>

Grayscale poaches Invesco exec ahead of potential Bitcoin ETF

crypto.news

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