Grayscale, Firm Behind Leading Bitcoin Trust, Is Hiring ETF Specialists

Nine new job postings indicate Grayscale is considering joining the race to win the SEC’s first bitcoin ETF approval.

AccessTimeIconMar 10, 2021 at 12:53 a.m. UTC
Updated Mar 9, 2024 at 2:05 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Digital asset management firm Grayscale might be on the cusp of trying to launch a bitcoin exchange-traded fund (ETF), according to new job postings.

The nine postings strongly suggest the New York-based firm is planning an ETF business. The listings are undated but the firm tweeted a link to its jobs board Tuesday evening. Grayscale is a subsidiary of Digital Currency Group, CoinDesk’s parent company.

  • What South Korea's Latest Election Means for Crypto Adoption in the Country
    What South Korea's Latest Election Means for Crypto Adoption in the Country
  • Hong Kong Approving an Ether ETF Could Be a 'Surprise,' Analyst Says
    Hong Kong Approving an Ether ETF Could Be a 'Surprise,' Analyst Says
  • What South Korea's Elections Mean for Crypto; The Potential for Spot BTC and ETH ETFs in Hong Kong
    What South Korea's Elections Mean for Crypto; The Potential for Spot BTC and ETH ETFs in Hong Kong
  • Would You Get Paid in Crypto?
    Would You Get Paid in Crypto?
  • A bitcoin ETF is a retail-accessible trading vehicle that can give both individuals and institutions exposure to the bitcoin market without having to hold bitcoin itself. The industry has long clamored for an ETF, with various firms filing applications to the U.S. Securities and Exchange Commission (SEC) as far back as 2013. Grayscale has previously not applied for an ETF.

    The job postings all refer to Grayscale’s “ETF business,” though the firm does not currently offer any exchange-traded products. It does offer a number of cryptocurrency trusts, bitcoin being chief among them, that trade at a premium to the spot price.

    Notably, it would appear that these potential ETFs would not be limited to bitcoin vehicles.

    New business line?

    One of the postings is for an ETF Creation & Redemption Specialist, who would be responsible for managing pricing sources and understanding “how to create a ‘basket’ of digital assets for inclusion in an ETF.”

    Another posting calls for an ETF Market Maker Relationship Manager, who would be tasked with developing new relationships with market makers while maintaining existing ones for the ETF business.

    Candidates for this position would need to 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,” the job posting said.

    Grayscale’s existing trusts do not trade on the NYSE/CBOE platforms but are traded by retail investors in over-the-counter (OTC) markets.

    New reality

    The job openings come weeks after the Grayscale Bitcoin Trust and Ethereum Trust both began trading at discounts to the spot price of bitcoin, reversing years of trading at a premium.

    Canada is poised to deliver its third bitcoin ETF this week, but the U.S. Securities and Exchange Commission (SEC) has yet to approve one.

    Industry experts believe that a bitcoin ETF, which the SEC has repeatedly rejected, might finally see the light of day in the U.S. this year, noting both the Canadian approvals as well as new leadership at the securities regulator.

    A Grayscale spokesperson did not immediately return a request for comment.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Nikhilesh De

    Nikhilesh De is CoinDesk's managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.

    Nate DiCamillo

    Nate DiCamillo is a business reporter at CoinDesk with a focus on banking and economics.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.