Grayscale’s CEO, Michael Sonnenshein, interpreted the spot Bitcoin (BTC) exchange-traded fund (ETF) application by world giant institutions as an indication of the growing seriousness against BTC.
Michael Sonnenshein, the hot topic of the last days spot Bitcoin ETF evaluated their applications. He told The Block, BlackRock And fidelity world’s giant investment companies such as ETF race pointing out that Bitcoin is now not seen as a passing fad. stressed.
Stating that the crypto money market reacted positively to the ETF demand, Sonnenshein attributed the price activity in recent weeks to these developments:
Market participants are responding positively to the entry of well-established financial institutions into Bitcoin. These developments represent a growing belief in Bitcoin that was once seen as a fad.
CEO Sonnenshein did not hesitate to highlight the increasing competition in the ETF race. He suggested that market investors characterize the impending great wave as a once-in-a-generation event:
Recent developments regarding new entrants to Bitcoin underline the lasting power of this asset class more broadly. However, many investors are aware of the increasing momentum and see this as a once-in-a-generation investment opportunity.
Notable for a similar description BlackRock CEO Larry Fink He told Fox Business on Wednesday, July 5th. Describing Bitcoin as digital gold brought to the fore its revolutionary power.