- Grayscale CEO Michael Sonnenshien makes new statements about Ethereum.
- Grayscale recently withdrew its Ethereum futures ETF application, causing much speculation in the market.
- Sonnenshien emphasizes that they have not given up on Ethereum and will continue to focus on converting Grayscale’s Ethereum Trust (ETHE) into a spot Ethereum ETF.
Grayscale CEO Michael Sonnenshien discusses the firm’s commitment to Ethereum and its plans for a spot Ethereum ETF, despite withdrawing its futures ETF application.
Grayscale’s Focus Remains on Spot Ethereum ETF
Speaking at an event hosted by the Financial Times in London, Grayscale CEO Michael Sonnenshien reiterated the firm’s commitment to Ethereum. Despite withdrawing their Ethereum futures ETF application, Sonnenshien emphasized that they have not given up on the path to a spot ETH ETF. He explained that the decision to withdraw the futures ETF application was due to the existing dominance of such products in the market. “Just because we apply for a product doesn’t necessarily mean it will come to market. Sometimes it’s necessary to withdraw,” he stated.
SEC’s Stance on Ethereum Still Unclear
Sonnenshien also touched on the uncertainty surrounding the SEC’s stance on Ethereum, noting that the regulatory body has not yet definitively classified ETH as a security. Despite this, he expressed confidence that the SEC will prioritize investor interests. He reiterated Grayscale’s commitment to continue striving for the approval of a spot Ethereum ETF.
Investment Advice Disclaimer
This article does not constitute investment advice. Always conduct your own research and consult with a professional before making investment decisions.
Conclusion
Grayscale’s commitment to Ethereum remains strong, with plans to continue pursuing a spot Ethereum ETF. Despite regulatory uncertainties, the firm is optimistic about the future of Ethereum and its potential as an investment product.
