Grayscale Investments has added former Invesco ETF lead John Hoffman to its team as the digital asset manager continues its efforts. Remodeling the flagship G BTC
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Hoffman previously led Invesco’s Americas ETF team. According to his LinkedIn profile, he now takes on a new role at Grayscale as managing director and head of distribution and strategic partnerships.
“We are very excited to have Hoffman join the team,” Grayscale CEO Michael Sonnenshein said at X on Friday.
“The Grayscale team is very excited to have John Hoffman join us as Managing Director and Head of Distribution and Strategic Partnerships. John brings a wealth of industry and ETF expertise, which will especially benefit our team and our clients during this exciting time at Grayscale. “This will be an invaluable asset for us,” Dave LaValle, head of global ETFs at Grayscale, said in an emailed statement to The Block.
Race to Spot Bitcoin ETFs
Many asset managers vying For spot Bitcoin ETFs including WisdomTree, Invesco, Fidelity, and BlackRock. The application requires approval from the Securities and Exchange Commission, and the regulator has not yet approved a spot crypto ETF.
grayscale and black stone Both recently met with the SEC’s Trading and Markets Division regarding their applications for a spot Bitcoin fund.
Bitcoin prices have surged amid speculation that approval could be nearing. The world’s largest digital asset by market capitalization rose 12.1% over the past month and 123.7% from last year. It was up 2.3% over the past day to $38,415 at 10:48 a.m. ET, according to The Block data.
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.