John Hoffman, formerly of Invesco, has been appointed as the new Managing Director and Head of Distribution and Partnerships at Grayscale Investments. This appointment comes as Grayscale intensifies its efforts to launch a spot Bitcoin exchange-traded fund (ETF). Hoffman's extensive experience in the ETF space is expected to play a vital role in this initiative. Grayscale's move to hire Hoffman signifies its commitment to advancing its position in the competitive race to launch a spot Bitcoin ETF, which is part of a broader industry trend. The SEC's timeline for approving Bitcoin spot ETFs remains uncertain despite a favorable court ruling that mandated the SEC to review its applications.