Grayscale Securities is a new brokerage division of crypto management company Grayscale Investments. This new subsidiary is recognized as a broker-dealer by the SEC and the Financial Industry Regulatory Authority (FINRA). Recently, Grayscale Investments assigned a key administrative role to Grayscale Securities. Find out what it is.
Grayscale Securities takes over key role from Genesis Global Trading
Digital Currency Group is a venture capital firm in the crypto sector. The group is made up of 5 subsidiaries, including Genesis Global Trading and Grayscale Investments. Genesis Global Trading handled the sale of the shares Crypto Trust products from Grayscale Investments. But, this function was recently handed over to Grayscale Securities, a new brokerage division.
In addition, the subsidiary Grayscale Securities will now manage the creation of new shares of the Grayscale Investments group. According to the CEO of the group, Grayscale’s activity remains the same despite this change and its organization could be improved. Michael Sonnenshein believes that this change will “bring in-house capability to the Grayscale organization while continuing to adhere to all financial rules and regulations“. He stressed that the customer experience will not be affected.
That said, Genesis will continue to be Grayscale Investments’ sole liquidity provider. The company is not going to stop managing the purchase of the cryptos underlying the Grayscale trusts. “Today, Genesis remains our only liquidity provider and we’ve only had a positive relationship with them, since 2013, so I don’t see any need for expansion.“said Sonnenshein.
It only remains to hope that the new change within Grayscale Investments promotes the growth of the group. It should be noted that the company manages nearly 20 different products. It offers investors the possibility of being exposed to a single crypto such as bitcoin (BTC), ether (ETH), or a whole diversified set of tokens.
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