Grayscale Bolsters Bitcoin ETF Ambitions with Key Invesco Hire

• John Hoffman Joins Grayscale to Lead Distribution and Partnerships
• John Hoffman's Accomplished Career in ETFs
• Grayscale's Excitement Over Hoffman's Appointment
• Invesco: A Leading ETF Issuer
• Grayscale's Bitcoin ETF Aspirations

John Hoffman Joins Grayscale to Lead Distribution and Partnerships

Crypto asset management firm Grayscale has on-boarded John Hoffman, formerly the Head of Americas at Invesco, to helm its distribution and partnerships team. This strategic move comes ahead of a pivotal decision, expected in six weeks, on the company's ability to introduce a spot bitcoin (BTC) exchange-traded-fund (ETF).

John Hoffman's Accomplished Career in ETFs

John Hoffman is a seasoned ETF expert, having dedicated over 17 years of his career to investment manager Invesco. His journey with Invesco started in the role of director of ETF institutional sales and capital markets at Invesco PowerShares Capital Management. Subsequently, he transitioned to an advising role and eventually assumed the position of head of the Americas, ETF, and indexed strategies team.

Grayscale's Excitement Over Hoffman's Appointment

Dave LaValle, the Global Head of ETFs at Grayscale, expressed his enthusiasm about Hoffman joining the team. He said, We are thrilled to welcome John Hoffman as Managing Director and Head of Distribution and Strategic Partnerships. John brings an abundance of industry and ETF expertise, which will undoubtedly be a significant asset for our team and clients, particularly during this thrilling period at Grayscale.

Invesco: A Leading ETF Issuer

Invesco, where Hoffman previously worked, is one of the biggest ETF issuers in the U.S., with more than 200 ETFs traded on U.S. markets and approximately $425 billion in assets under management (AUM). The company recently experienced another high-profile departure when Anna Paglia, who served as global head of ETFs, indexed strategies, SMAs and models at Invesco for seven years, joined State Street Global Advisors.

Grayscale's Bitcoin ETF Aspirations

Grayscale aspires to convert its GBTC bitcoin trust into an ETF in January, pending a decision by the Securities and Exchange Commission (SEC). The SEC is set to rule on the launch of 13 potential spot bitcoin ETFs, including proposals from BlackRock, Invesco, and Franklin$0.0015 -3.24%, among others.

Edited by Jonathan Stoker