Grayscale CEO eyes spot Bitcoin ETF, unlocking $30 trillion for institutional investors, signaling broader crypto access and a bullish market.
In a recent CNBC interview, Grayscale CEO Michael Sonnenshein passionately conveyed the potential impact of a spot Bitcoin ETF, emphasizing its ability to “unlock” Bitcoin (BTC) for approximately “$30 trillion worth of advised wealth.” The CEO acknowledged ongoing conversations with the SEC, emphasizing a commitment to navigating regulatory complexities.
“We see this as a tremendous opportunity for investors. It’s about providing access, and a spot Bitcoin ETF could be the key to unlocking vast reserves of advised wealth,” Sonnenshein said.
Regarding the regulatory challenges, the Grayscale CEO said the company is actively engaged in conversations with the SEC to address concerns and facilitate a smooth transition towards a regulated spot Bitcoin ETF as Grayscale’s continues to be proactive in getting its ETF offering to the market.
Additionally, Sonnenshein acknowledged Grayscale’s role in pioneering cryptocurrency investment with products like the Grayscale Bitcoin Trust.
“We’ve been a trailblazer, providing institutional-grade exposure to digital assets,” he said. “The demand is evident, and a spot ETF aligns with our vision of democratizing access to cryptocurrencies.”
Source: https://crypto.news/grayscale-ceo-confident-in-2024-bitcoin-market/