GlobeNewswire Inc | Aug 4, 2021 08:30AM EDT

August 04, 2021

New York, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Grayscale Investments, the worlds largest digital currency asset manager, today announced the official appointment of David LaValle as Senior Managing Director, Global Head of ETFs, reporting directly to Michael Sonnenshein, CEO of Grayscale.

"Grayscale is 100% committed to converting our investment products, including Grayscale Bitcoin Trust (GBTC), into ETFs, said Sonnenshein. Dave is a pioneering leader in the ETF space with expertise spanning critical components of the ETF ecosystem, including product development, distribution, capital markets, trading and regulation. He will accelerate Grayscales ability to realize our commitment to ETFs, and I couldnt be more excited to welcome him to the Grayscale team, and the digital asset ecosystem, more broadly.

Grayscale Investments recently formed Grayscale Advisors, LLC, a registered investment advisor. Grayscale Advisors will serve clients looking to explore or deepen their exposure to digital currencies through Grayscale's premium offering of differentiated investment funds and services. The new, regulated entity will build upon the firms robust product line-up to ensure that investors can deploy capital through a mechanism that is secure, transparent, and familiar.

Theres been a fundamental shift in investor preferences, directly impacting wealth managers and the asset management industry. Im delighted by the opportunity to leverage my broad experience to work with Michael and the Grayscale team to advance this digital evolution, said LaValle. Grayscale is an unrivaled leader in the digital asset space and I am eager to work with the team to meet investor demand for single asset trusts and diversified funds, while developing the future of digital currency-based ETFs.

Prior to joining Grayscale, David LaValle served as Chief Executive Officer of Alerian and S-Network Global Indexes, a leading independent index provider focused on building innovative, index-based investment strategies. LaValle has more than 20 years of experience in financial services and a diverse background that spans the entire ETF landscape. LaValle also previously served as the US Head of SPDR ETF Capital Markets and as a member of the senior leadership team at State Street Global Advisors. Prior to State Street, LaValle led Nasdaqs Exchange Traded Product Marketplace where he was responsible for all aspects of strategy and business development for Nasdaqs ETP listing and trading businesses.

Last year, Grayscale doubled its headcount, and it expects to continue expanding its team this year across all functional areas. New hires across the Grayscale organization reflect both the firms commercial success and the need to scale its infrastructure accordingly to meet future business needs. A key focus for Sonnensheins leadership continues to be heavily investing in people, alongside technology and the brand. Open positions for Grayscales new ETF team can be found here.

About Grayscale InvestmentsGrayscale Investments is the worlds largest digital currency asset manager, with more than $34.5B in assets under management as of August 3, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscales products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA/SIPC, MSRB Registered). For more information, please visit grayscale.com and follow @Grayscale.

About Grayscale AdvisorsGrayscale Advisors is a registered investment advisor specializing in the digital asset ecosystem. Headquartered in Stamford, CT, the firm will provide advisory services, industry-leading products, and tailored solutions to investors seeking exposure to the digital currency asset class.

Jennifer Rosenthalpress@grayscale.com