Institutional investors to bitcoin s that paves the way for greater exposurepot Bitcoin ETF Investor expectations for its approval have started to rise recently.
Speaking to CNBC in this context, Grayscale CEO Michael Sonnenshein He talked about the spot Bitcoin ETF.
Stating that it is only a matter of time before the SEC approves the spot Bitcoin ETF, Grayscale CEO said that after this stage, the main issue is not whether the SEC will approve the spot Bitcoin ETF, but only when.
in early April Teucrium’s futures Bitcoin ETF The SEC has approved this ETF under the Securities Act of 1933. But the SEC had approved futures ETFs under the 1940 act, which it approved last year.
Evaluating the approval of the spot ETF after the Teucrium ETF, which the SEC approved under the 1933 act, Michael Sonnenshein said:
“From the SEC perspective, ETF products approved under the 40 act had various protections that the 33 approved products did not.
However, these protections have never addressed concerns about the potential for fraud or manipulation in the Bitcoin market, which the SEC cited in its rejection of spot Bitcoin ETFs.
So the fact that the SEC has now developed their thinking on the spot ETF and approved Teucrium’s application under Act 33 invalidates the grounds for rejection.”
Saying that the SEC should look at the futures and spot ETFs from the same lens, the famous CEO talked about Grayscale’s ETF application.
“We expect to hear from the SEC in early July regarding Grayscale’s application to convert its Bitcoin Trust into a Bitcoin ETF.
If the SEC does not view the matter through the same lens and rejects our application, it potentially creates grounds for us to file a lawsuit under the Administrative Procedure Act.”