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Grayscale Might Launch an ETF Business, According to New Job Postings

Grayscale, the New York-based digital asset firm, might be planning an ETF launch, given that the company is hiring ETF specialists. 

The nine new job postings coming from Grayscale suggest that the firm is considering an ETF business and thus approval for the first Bitcoin ETF from the US SEC. Even though the postings are undated, the firm shared a link to these new jobs via a tweet on Tuesday, March 9th. 

Bitcoin ETFs are retail-accessible trading vehicles that provide their clients with exposure to the BTC market without actually holding the digital asset. Several companies have filed applications to the US SEC for an exchange-traded fund, but Grayscale has not been among them. Meanwhile, Canada’s securities regulators approved a third ETF earlier this week. 

Grayscale offers various cryptocurrency trusts, including a Bitcoin trust, but it presently does not offer any ETF products. However, the new job listings all refer to the firm’s ETFs, which indicates that Grayscale is seriously considering getting into this type of business. What’s more, according to these listings, the ETF wouldn’t be only BTC-oriented. 

Some of the ETF specialists Grayscale is currently looking to hire include the following: ETF Sales Director, ETF Product Development Specialist, and ETF Authorized Participant Relationship Manager. 

The firm is also seeking a “specialist to support the creation and redemption process of Grayscale’s exchange traded fund (ETF) products as well as business expansion plans,” according to its ETF Creation & Redemption Specialist listing. 

The company is also interested in hiring an ETF Market Maker Relationship Manager, who would “manage relationships with MMs of Grayscale ETFs” and should have “experience in interacting with FINRA, SEC, NYSE, NYSE ARCA, CBOE, and/or other securities exchanges, either directly or in collaboration with Compliance and Legal staff.”

Source: Coindesk

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