Grayscale Investments CEO Michael Sonnenshein said spot Bitcoin exchange-traded funds (ETFs) could add $30 trillion to the cryptocurrency market.
Spot Bitcoin ETFs In January 2024 As expectations for approval increase From Michael Sonnenshein, CEO of Grayscale Investments A statement was made on the subject.
In a recent interview with CNBC, While he stated that investors have started to look positively towards Bitcoin again, investors who have not yet added Bitcoin to their portfolios spot Bitcoin ETF awaits approval he emphasized. Based on this, the CEO will only be able to purchase Bitcoin in the US market 30 trillion dollars It indicated that there was a potential customer presence.
Sonnenshein if ETF approval comes next year both corporate and individual investors He argued that there could be a high level of interest in Bitcoin:
I will not make a clear price prediction about Bitcoin, but investor interest in this area is gradually increasing in a positive direction. Today, we see an investor potential worth 30 trillion dollars in the USA. I hope that after the spot Bitcoin ETF approval comes, this investor capital that remains outside will start to flow into Bitcoin quickly.
Grayscale currently has a spot Bitcoin ETF application called Grayscale Bitcoin Trust (GBTC) submitted to the US Securities and Exchange Commission (SEC).