- Grayscale CEO Michael Sonnenshein recently expressed optimism about the upcoming launch of spot Bitcoin ETFs.
- According to reports, the Securities and Exchange Commission (SEC) has been in talks with crypto platforms regarding Bitcoin ETFs.
- Neomi Rao questioned the SEC’s rejection of Gryascale’s ETF application, alleging that the regulator’s move was “arbitrary and capricious.”
The CEO of Grayscale, the world’s largest digital asset manager, discussed the launch of spot Bitcoin ETFs in a recent interview.
Recent Statements by Grayscale CEO
Grayscale CEO Michael Sonnenshein expressed optimism about the upcoming launch of spot Bitcoin ETFs. In an interview, the Grayscale CEO confirmed his positive view on the introduction of Bitcoin ETFs, stating, “It’s a matter of time, not ‘if.'”
According to reports, the Securities and Exchange Commission (SEC) has been in talks with crypto platforms regarding Bitcoin ETFs. Eric Balchunas, Senior ETF Research Analyst at Bloomberg, analyzed these discussions as a positive development in the market. Similarly, Sonnenshein noted that the details provided by regulators about the ETF launch and the level of interaction with regulators added to the optimistic outlook.
The CEO emphasized that the conversion of the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF) is the company’s “number one mission,” and he reiterated his optimistic beliefs on this matter in several previous interviews, especially after receiving approval from the court. In a previous interview, he stated:
“The ETF was always the goal for GBTC… An ETF format was always what we envisioned and intended to do before launching the product in 2013.”
Sonnenshein Affirms SEC’s Role
In the recent discussion, Sonnenshein shed light on the regulatory framework that will be applied with the introduction of Bitcoin ETFs. He confirmed that the SEC would ensure the “appropriate protection of investors.”
Earlier this year, Judge Neomi Rao of the U.S. Court of Appeals questioned the SEC’s rejection of Gryascale’s ETF application, alleging that the regulator’s move was “arbitrary and capricious.” The court stated, “The Commission failed to explain why it treated similar products differently” and forced the SEC to reconsider the company’s application, signaling a partial victory for Grayscale.
