Grayscale’ s CEO , LaValle will lead the team tasked with turning Grayscale Bitcoin Trust into a Bitcoin-based ETF. At the moment it is not known when he will file the respective application with the SEC.
Grayscale Investments, the company that manages several investment funds based on cryptocurrencies, announced the hiring of David LaValle, who will assume the direction of the ETF
area for the company, this in the framework of its plans to launch an exchange-traded fund based on
This was confirmed by Grayscale CEO Michael Sonnenshein, who assured that LaValle’s experience will be of great importance for the company’s plans, this being the first hiring in this area for the creation of a working group especially dedicated to the ETF
David LaValle will lead the ETF team for Grayscale
As such, LaValle has experience working on a number of exchanges, including creating listings for ETFs on NASDAQ and running a business segment in this area for State Street
, operating in the latter case as head of the capital markets team for banks.
Prior to his appointment to Grayscale, LaValle was the former CEO of Alerian,
a financial market index provider, where he also gained experience in this line of work. Regarding
his appointment within the Grayscale team and plans to launch a Bitcoin-based ETF
, LaValle commented:
“For more than 25 years, ETFs focused on U.S. domestic equities, and then moved into international equities, commodities, fixed income and sub-sectors of fixed income… Obviously, we’re now moving into the next wave of evolution, and I’m very excited about that.”
Refining the path to launch a Bitcoin ETF
As such, Grayscale announced this year its plans to launch a Bitcoin-based ETF , amid the existing race to see what will be the first
The company to be granted permission by the U.S. Securities and Exchange Commission (SEC) to launch its first investment fund associated with digital currency.
Currently the SEC has postponed its verdict on proposals from VanEck and WisdomTree, so applications from Fidelity, ARK Investment and GalaxyDigital are in the queue. Grayscale has only announced plans to file its own ETF application , for which it is preparing a dedicated team.
At the moment, Sonnenshein has not disclosed how many people Grayscale would hire for this new direction, although there are currently 10 open positions. For now it is only known that LaValle will lead this new team, and that the company plans to turn Grayscale Bitcoin Trust into an ETF.
Version by Angel Di Matteo / DiarioBitcoin
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