Share this article
Grayscale Eyeing Expansion Into European Crypto Fund Market: Report
Grayscale is meeting with local partners to discuss entering the European market, CEO Michael Sonnenshein said.
Updated May 11, 2023, 5:37 p.m. Published Apr 26, 2022, 2:46 p.m.
Grayscale Investments, which runs the $30 billion Grayscale Bitcoin Trust (GBTC), is looking at expanding into the European market for crypto funds, Bloomberg reported Tuesday.
- Grayscale is meeting with local partners to discuss entering the European market, CEO Michael Sonnenshein said.
- No decisions have been made about which countries or exchanges will be targeted, said Sonnenshein, who is scheduled to speak at Consensus 2022 in June.
- The European crypto fund market has become more competitive in recent months, with exchange-traded products (ETP) listed in Switzerland, Germany and elsewhere by firms such as 21Shares.
- As of March, 73 crypto ETPs had been approved in Europe, with a total of $7 billion in assets.
- Aside from plotting a way into this market, Grayscale is also seeking to convert its bitcoin trust into an exchange-traded fund (ETF) in the U.S. but has been frustrated by the Securities and Exchange Commission (SEC). The U.S. markets regulator has approved four bitcoin futures ETFs but none that invest in the crypto directly.
- Sonnenshein remains optimistic however saying recently that it is a "matter of when and not if" the SEC approves a bitcoin spot ETF.
- Grayscale Investments is a subsidiary of Digital Currency Group, also the parent company of CoinDesk.
- The firm had not replied to an emailed request for comment by publication time.
Read more: Brazilian Crypto Asset Manager Hashdex Approved to List ETPs in Switzerland
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
UPDATE (16:20 UTC April 26): Adds additional bullets on background of GBTC's attempted filing with SEC and Sonnenshein's quote.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
需要了解的:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
需要了解的:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
Top Stories
