GSR Markets, a prominent liquidity provider for digital assets, has announced a management restructuring in anticipation of a potential crypto rally. This move aims to better serve clients in different time zones as the cryptocurrency market experiences renewed interest.

Based in London, GSR Markets has appointed Jakob Palmstierna as its new president, transitioning from his former role as CEO. The CEO position will now be jointly held by Rich Rosenblum and Xin Song. Rosenblum emphasized the importance of providing “24-hour coverage” for their global customer base.

“We also want to be able to create projects in the future that our clients, two years from now, are going to be using. At this point, it’s a hefty task. So having me physically be in the time zone in the U.S., it’s easier for me to talk to some of those stakeholders.”

The restructuring is also influenced by the recent approval of exchange-traded funds (ETFs), which has heightened interest in Bitcoin (BTC). GSR Markets expects similar approvals for Ethereum (ETH) ETFs. Rosenblum mentioned that the firm, established in 2013, tripled its revenue in the first half of the year compared to the same period last year, and has never raised external capital.

In early 2024, GSR Markets appointed ex-JPMorgan executive Andreas Koukorinis as the new head of trading. This move aims to cater to more conservative clients interested in trading major cryptocurrencies.

For more news and updates on the cryptocurrency market, keep exploring Global Crypto News.

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