Bitcoin Spot ETF Approval Nears Amid Productive SEC Discussions
Central issues:
- After productive discussions with the SEC, Grayscale Investments CEO Michael Sonnenshein is hopeful that a spot bitcoin ETF will be approved.
- Although specific timelines have not been disclosed, the SEC’s engagement and questions indicate a genuine interest in progressing the matter.
Grayscale Investments CEO Michael Sonnenshein recently expressed his optimism following productive discussions with the Securities and Exchange Commission (SEC) regarding the possibility of Bitcoin Spot ETF approval.
According to Sonnenshein, the SEC’s inquiries during their engagement showed a sincere desire to address the issue and make significant progress.
“There’s been a lot of optimism in the market,” Grayscale CEO Michael Sonnenshein says on crypto. “There is no question that this asset class is here to stay, that investor interest in this asset class is growing.” pic.twitter.com/XXTVYjekWP
— Yahoo Finance (@YahooFinance) December 6, 2023
Grayscale achieved a significant victory in August when three judges ruled that the SEC must re-evaluate their bid for a spot bitcoin ETF, although specific timelines were not disclosed.
Gary Gensler, Chair of the SEC, has expressed reservations regarding the cryptocurrency industry, focusing particularly on worries about manipulation and fraud. Regardless of this, Sonnenshein stays positive about the reasonability and life span of the resource class. progress.
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Bitcoin Spot ETF Approval May Be Near
Sonnenshein emphasized that every executive has their own opinions on emerging technologies in response to JPMorgan CEO Jamie Dimon’s recent statement that he would shut down crypto if in a position of power.
Sonnenshein emphasized, taking a step back, that the cryptocurrency asset class will undoubtedly continue to exist. He called attention to that financial backer interest in this space keeps on developing dramatically.
Moreover, inheritance foundations and banks have previously started adjusting their plans of action to consolidate these new advances. Sonnenshein accepts that these substances are very much aware of the expected advantages and amazing open doors introduced by cryptographic forms of money and are effectively advancing to successfully use them.