According to Bloomberg, Grayscale Investments, which manages the $30 billion Grayscale Bitcoin Trust (GBTC) fund, is considering entering the European cryptocurrency fund market.
According to CEO Michael Sonnenschein, Grayscale is meeting with local partners.
In recent months, the European crypto fund market has become more competitive thanks to exchange-traded products (ETPs) registered in Switzerland, Germany and other countries.
As of March, 73 crypto-ETPs with assets totaling $7 billion had been approved in Europe.
Grayscale is now also seeking to convert its bitcoin trust (BTC) into an exchange-traded fund (ETF).