Analyst, ETF Capital Markets at Grayscale Investments

Stamford, Connecticut, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, Cryptocurrency, Investment ManagementIndustries

Requirements

Bachelor’s degree in finance, economics, or a related field
1–3 years of experience within ETF capital markets, trading, or operations — ideally at an ETF market maker, Authorized Participant, or ETF issuer
Strong understanding of ETF mechanics, particularly primary/secondary market structure and the creation/redemption process
Familiarity with trading systems, order workflows, and market data platforms (Bloomberg preferred)
Excellent Excel skills and ability to manipulate and analyze large data sets
Strong organizational skills, attention to detail, and ability to thrive in a fast-paced trading environment
Effective written and verbal communication skills
Knowledge of cryptocurrency or blockchain technology is a plus

Responsibilities

Support daily ETF trading operations including creation/redemption orders, NAV analysis, and flow reconciliation
Assist in managing relationships and communications with APs, market makers, exchanges, crypto liquidity providers, and custodians
Monitor secondary market activity and identify dislocations, spreads, or enhancements to trading efficiency
Track and report ETF primary and secondary market metrics including volume, liquidity, spreads, and flows
Build and maintain models to analyze ETF performance, liquidity, and market making trends
Provide coverage during core trading hours to ensure responsiveness to trade inquiries and operational continuity
Partner with internal stakeholders across Operations, Product, Compliance, and Sales to resolve trade and settlement issues
Conduct market surveillance and summarize competitor ETF activity, pricing, and liquidity
Support the build-out of Grayscale’s ETF capital markets infrastructure and processes, including trade flow automation and data tracking systems

Skills

Key technologies and capabilities for this role

ETF tradingCapital marketsCreation/redemptionNAV analysisFlow reconciliationAuthorized ParticipantsMarket makersTrading operationsCrypto liquidityInstitutional relationships

Questions & Answers

Common questions about this position

What experience is required for the Analyst, ETF Capital Markets role?

A Bachelor’s degree in finance, economics, or a related field is required, along with 1–3 years of experience within ETF capital markets, trading, or operations.

What are the main responsibilities of this position?

The role involves supporting daily ETF trading operations like creation/redemption orders and NAV analysis, managing relationships with APs and market makers, monitoring secondary market activity, tracking metrics, building models, and partnering with internal teams.

Is this a remote position or does it require office presence?

This information is not specified in the job description.

What is the salary or compensation for this role?

This information is not specified in the job description.

What kind of candidate is Grayscale looking for in this role?

Grayscale seeks a driven, detail-oriented, and market-savvy analyst with relevant experience to support ETF trading and capital markets functions.

Grayscale Investments

Manages investment products for digital assets

About Grayscale Investments

Grayscale Investments manages digital assets, focusing on cryptocurrency and blockchain markets. It offers investment products like exchange-traded funds (ETFs) and trusts, allowing clients to invest in digital currencies such as Bitcoin and Ethereum while ensuring regulatory compliance. The company earns revenue through management fees based on assets under management and serves a diverse clientele, including institutional investors. Grayscale's goal is to provide accessible investment opportunities in the digital asset space, helping clients diversify their portfolios.

New York City, New YorkHeadquarters

2013Year Founded

$886.6MTotal Funding

IPOCompany Stage

Crypto & Web3, Financial ServicesIndustries

51-200Employees

Risks

Increased competition from other digital asset firms could dilute Grayscale's market share.

Regulatory scrutiny on cryptocurrency products may lead to stricter compliance requirements.

Volatility of altcoins poses a risk of significant asset devaluation.

Differentiation

Grayscale offers regulated investment products in the digital asset space.

The company provides exposure to digital assets without direct ownership challenges.

Grayscale's Bitcoin Trust is the first SEC-reporting digital currency investment vehicle.

Upsides

Grayscale is expanding its product range with 39 new altcoins for Q1 2025.

The company predicts smart contracts will be a top-performing sector in Q1 2025.

Grayscale's inclusion of Solana DeFi apps highlights new investment opportunities.

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