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As excitement over the Spot Bitcoin ETF soars, Grayscale Investments CEO Michael Sonnenshein made important statements. Sonnenshein sent a positive message to Bitcoin (BTC) and altcoin investors by saying, “We are constantly in touch with the SEC, and we are optimistic.”
“SEC Wants to Make Progress on Spot Bitcoin ETF”
Grayscale Investments CEO Michael Sonnenshein said they are optimistic about their discussions with the U.S. Securities and Exchange Commission (SEC) regarding the spot Bitcoin ETF. In his statement on Wednesday on Yahoo Finance, Sonnenshein said, “We are optimistic. We are constantly in touch with the SEC. The questions we receive from them show that they are interested in this issue and are willing to make progress.” Sonnenshein also added that the SEC has not provided them with any timeline for ETF applications.
As is known, Grayscale Investments has been struggling to launch a spot Bitcoin ETF in the U.S. The asset management company sued the SEC last year after the application to convert its flagship GBTC fund into a spot ETF was rejected. This year in August, the company achieved a significant victory when three judges decided that the SEC should review the rejected application again.
SEC Chairman Gary Gensler continues to send negative signals to the crypto market. At a Senate Banking Committee hearing in September, he said the institution was still reviewing the court’s decision. While some experts say the court’s decision on Grayscale Investments could lead to a decision in their favor, Gensler continues to criticize crypto projects and companies, expressing concerns about fraud and manipulation.
Sonnenshein Responds to JPMorgan CEO
JPMorgan CEO Jamie Dimon‘s targeting of Bitcoin and altcoins during the Senate Banking Committee hearing on Wednesday, and saying that if he were the government, he would shut down crypto, caused a stir. Yahoo Finance asked Sonnenshein about Dimon’s comments.
Sonnenshein stated that every executive will have their own views on new technologies, and said, “If you do that, you’re taking a big step back. There is no doubt that this asset class will stay, that investor interest in this asset class will increase, and there is no doubt that exactly these types of institutions, these old institutions, these banks have already started to develop business models to account for these new technologies.”
