The NFL's New York Giants have announced a partnership with crypto asset management firm Grayscale, per an announcement today.
"Our partnership with the Giants is incredibly meaningful because our roots are in New York," said Michael Sonnenshein, Grayscale CEO, adding, "We're excited to partner with such a forward-thinking franchise."
Grayscale currently holds over $46 billion in assets under management. The firm's Bitcoin Trust (GBTC) gives investors the chance to gain exposure to Bitcoin without buying or storing Bitcoin directly.
What's the partnership for?
According to the Giants, the partnership enables the NFL franchise to navigate the cryptocurrency ecosystem. "Grayscale quickly emerged as a company that shares our passion for the New York market but also has the institutional knowledge and network of partners that we can access as crypto continues to evolve," said New York Giants chief commercial officer Pete Guelli.
In turn, Grayscale gets to be the presenting sponsor of The Giants Foundation Gold Outing. The Giants Foundation—founded in 1993—provides financial support in the tri-state area for organisations that work to tackle community issues. Grayscale will also be featured as a home game sponsor and a sponsor at the Giants' training camp, and will even host voluntary, educational seminars on cryptocurrencies for Giants personnel every year.
One Giant that might be interested in those seminars is Saquon Barkley. The star running back is one of the faces of the New York franchise, and he recently updated his Twitter bio to include Bitcoin.
The NFL has already been pivoting towards crypto, with some of its biggest stars converting salaries to Bitcoin and the likes of Rob Gronkowski and Tom Brady jumping on the NFT bandwagon.