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Grayscale CEO Talks About Bitcoin ETF! Crypto community, in this period when preparations for spot Bitcoin exchange-traded funds (ETFs) are ongoing, Grayscale CEO Michael Sonnenshein stated in a CNBC interview that optimism in the BTC market has increased and many investors have added Bitcoin to their portfolios.
Sonnenshein stated that the advisory market in the US is worth 30 trillion dollars, and explained that he believes spot Bitcoin ETFs can make a significant impact in this market.
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Grayscale is one of the leading companies striving for spot Bitcoin ETF approval. Company representatives met with the SEC on November 22nd to discuss the details of the Bitcoin trust they want to convert into an ETF.
Samson Mow believes that ETFs can contribute to the branding and marketing aspect of Bitcoin.
MicroStrategy co-founder Michael Saylor said that Bitcoin ETFs would be the most important development on Wall Street in 30 years and stated that ETFs would be a catalyst directing demand towards Bitcoin.
However, according to some analysts, even ETF approvals may not rapidly increase the Bitcoin price. Oliver Velez said that buying a spot BTC ETF is like “buying paper Bitcoin,” while buying real BTC is “a once in a lifetime cost.”
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