Digital asset management firm Grayscale could be on the cusp of launching a bitcoin exchange-traded fund (ETF), according to new job postings.
If the latest job postings from Grayscale, a leading cryptocurrency investment firm with $40 billion in assets under management, are anything to go by, the firm could be on the verge of filing for an exchange-traded fund in the United States.
The company posted the link to its latest job openings on Twitter on Wednesday. According to the posting, there are nine openings for ETF professionals, including an Authorized ETF Relationship Manager, whose job is to “develop and maintain new and existing relationships with authorized participants for Grayscale’s exchange-traded fund (ETF) products and develop business expansion plans.”
There is also an opening for an ETF Compliance Officer, who will be charged with supporting Grayscale’s ETF formulation and redemption process.
Other open positions include ETF Market Maker Relationship Manager, ETF Finance Reporting Manager, ETF Product Development Specialist, ETF Sales Director, and ETF Finance Support Manager.
To date, the U.S. Securities and Exchange Commission has not approved a crypto ETF. Since 2013, when the Winklevoss twins submitted the first bitcoin ETF application, the financial regulator has rejected several ETF proposals. But while the SEC is still trying to greenlight crypto ETFs, Canadian regulators have already approved three bitcoin ETFs in the past two months.
The job postings come weeks after the Grayscale Bitcoin Trust and the Ethereum Trust both began trading at discounts to bitcoin’s spot price, reversing years of trading at a premium.
Industry experts believe a bitcoin ETF, which the SEC has repeatedly rejected, could finally see the light of day in the U.S. this year, taking into account both Canadian approvals and new leadership at the securities regulator.