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Grayscale Eyeing European Expansion, Says Sonnenshein


Digital currency investing services firm Grayscale Investments LLC is eyeing to venture into Europe in a bid to expand its international footprint, according to a Bloomberg report.

Chief Executive Officer Michael Sonnenshein said the company has yet to make final plans on which exchanges or which countries to offer products and which services it would launch first.

Officials are also in talks with possible local partners for the expansion. It also plans to conduct a series of pilot tests in different markets, with over 80 exchange-traded cryptocurrency products already listed in western Europe.

Sonnenshein said Grayscale would be “very thoughtful, very methodical” in selecting the financial centers it plans to launch in, citing the difference in investor behaviors and attitudes among countries in the European market.

The development comes as the US Securities and Exchange Commission is set to decide on Grayscale’s proposal to convert its Bitcoin Trust into a physically-backed exchange-traded fund. GBTC is down 3.21%, while EZU is down 2.66%.

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