After winning a legal battle against the Securities and Exchange Commission last year, cryptocurrencycurrency asset manager Grayscale Investments has been contacted about mergers and acquisitions.
Michael Sonnenshein, the CEO of Grayscale, told CNBC’s Andrew Ross Sorkin that the company is open to partnerships and would explore them if they are proposed.
Sorkin emphasized that Grayscale is a market leader and is in charge of over $23 billion in assets under management in its Bitcoin Trust alone, despite the fact that big finance companies like BlackRock are getting more involved in cryptocurrencycurrency. But lately, assets have declined as investors’ money has moved from competitors’ bitcoin ETFs to ones with lower fees.
While there have been talks of Grayscale purchases, Sonnenshein acknowledged them. He acknowledged that these discussions have happened on occasion and said that Grayscale’s triumph before the SEC in August of last year attracted the attention of the financial community and resulted in more ETF approvals.
Sonnenshein reiterated that Grayscale has ambitious aspirations as an independent business, without excluding the possibility of a future merger. However, Grayscale may have options if it wants an even bigger footprint now that major financial firms are getting into the cryptocurrencycurrency space.
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