Grayscale Appoints Former Invesco Head to Lead Distribution and Partnerships Team
Crypto asset manager Grayscale has hired John Hoffman, the former Head of Americas at Invesco, to lead its distribution and partnerships team. With over 17 years of experience in ETFs and index strategies at Invesco, Hoffman brings valuable expertise to Grayscale. He has held various roles at Invesco, including leading the Americas, ETF, and indexed strategies teams.
Dave LaValle, Grayscale’s Global Head of ETFs, expressed excitement about Hoffman joining as Managing Director, highlighting his industry knowledge and ETF expertise.
Invesco Faces Departure as Anna Paglia Joins State Street Global Advisors
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Invesco is dealing with another significant departure as Anna Paglia, the global head of ETFs and indexed strategies, leaves to join State Street Global Advisors. Brian Hartigan will temporarily take on Paglia’s responsibilities while the firm searches for a permanent replacement. The departure reflects the competitive nature of the ETF market.
Grayscale Prepares for SEC Decision on Spot Bitcoin ETFs
Hoffman’s appointment comes ahead of the expected decision by the Securities and Exchange Commission (SEC) on Grayscale’s proposal for a spot bitcoin exchange-traded fund (ETF). Grayscale aims to launch its ETF in January and is among 13 other potential spot bitcoin ETFs awaiting approval. The SEC is currently reviewing applications from various asset managers for spot bitcoin ETFs.
The approval of spot Bitcoin ETFs is highly anticipated, with concrete decisions possibly made in January 2024. This anticipation has contributed to a surge in Bitcoin’s price.
