Bitcoin News Today: A Bitcoin ETF Architect Steers Crypto Benchmarks Toward Mainstream Finance

Bullish has appointed David LaValle as president of CoinDesk Indices and Data, effective immediately [1]. LaValle brings extensive experience in the exchange-traded fund (ETF) industry, most recently serving as global head of ETFs at Grayscale Investments. During his tenure at Grayscale, he played a central role in efforts to convert the Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF, a move that succeeded in January 2024 following a landmark court ruling [1]. Prior to Grayscale, LaValle held leadership roles at firms such as VettaFi, State Street Global Advisors, and Nasdaq, where he contributed to the development of the exchange-traded product marketplace [1].

LaValle’s appointment underscores Bullish’s strategy to expand its index and data business as the crypto market continues to mature and institutional investors seek reliable benchmarks for digital assets [1]. CoinDesk Indices, which oversees benchmarks such as the CoinDesk Bitcoin Price Index and the CoinDesk 20 Index, has become a leading provider of digital asset benchmarks, with over $40 billion in assets tracking its products [1]. The CoinDesk Bitcoin Price Index, a reference rate used by exchanges and funds, and the CoinDesk 20 Index, which tracks the largest digital assets by market cap and volume, are among its most widely followed measures [1].

Bullish acquired CoinDesk in late 2023 and recently listed on the New York Stock Exchange [1]. The company's decision to bring LaValle on board highlights its ambition to position CoinDesk Indices as a bridge between traditional finance and the crypto market. LaValle’s career has been defined by innovation and leadership in financial markets, and his background in both ETFs and index products positions him well to lead CoinDesk through its next phase of development [1]. According to Bullish CEO Tom Farley, LaValle’s expertise in listed products and index businesses is "second to none," and his experience will be instrumental in delivering institutional-grade data and index solutions to asset managers and institutions globally [1].

The broader market context is one of increasing institutional adoption and a growing need for reliable pricing benchmarks as crypto indices play an increasingly critical role in shaping funds, derivatives, and structured products tied to digital assets [1]. With the launch of the first spot Bitcoin ETFs in January 2024, the landscape for digital asset investing has shifted dramatically. LaValle’s appointment comes at a pivotal moment, as the industry moves from single-token exposure to more diversified, multi-token products.

CoinDesk Indices’ offerings are widely used by institutional investors and market participants to gauge performance and inform investment decisions [1]. With LaValle at the helm, the firm is expected to strengthen its role as a trusted provider of data and index solutions. This aligns with the broader trend of institutional players seeking transparency, reliability, and standardization in digital asset markets.

Source: [1] Former Grayscale ETF Chief David LaValle to Lead CoinDesk Indices in Institutional Push (https://www.coindesk.com/business/2025/09/02/former-grayscale-etf-chief-david-lavalle-to-lead-coindesk-indices-in-institutional-push)