Critical appointment from Grayscale while waiting for Bitcoin ETF decision

Grayscale, one of the companies that applied to the SEC for a spot Bitcoin ETF and is awaiting a decision, has added a critical name to its roster.

The world's largest crypto asset management company added John Hoffman to the team as the new general manager and senior manager responsible for distribution and partnerships, ahead of the spot ETF decision. This appointment is remarkable considering Hoffman's 20 years of work experience at Invesco, another company that has an ETF application.

He worked as an ETF manager at Invesco

Hoffman served as ETF institutional sales and capital markets director at Invesco. Invesco, among the largest ETF companies in the United States, manages approximately $400 billion in assets across more than 200 ETFs.

“The Grayscale team is thrilled to have John Hoffman join us as General Manager, Distribution and Strategic Partnerships,” said Dave LaValle, Grayscale's ETF manager. “John has a wealth of industry and ETF expertise that will be invaluable to our team and clients, especially during this exciting time for Grayscale.” he said.

Grayscale had applied to the SEC to convert its $24 billion Bitcoin fund GBTC into an ETF. The decision on this application is expected to be made in January. It is estimated that the decision in question will be announced between January 8 and 10.