Grayscale Bitcoin Trust (GBTC)) to convert to spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC)) applicant Michael Sonnenshein, CEO of Grayscale made statements on the subject.
Speaking to Bloomberg, the famous CEO of the SEC Bitcoin ETF if they continue to reject their application to the SEC He said that they are considering options including taking legal action against him, namely filing a lawsuit.
Grayscale vs SEC Administrative Procedure Law Case Michael Sonnenshein, when asked whether he would evaluate “We are considering all the options” he replied.
“GBTC stock has customers in all 50 US states today, with over 800,000 accounts waiting for GBTC to be converted into a spot Bitcoin ETF.
We do not consider whether a spot Bitcoin ETF will be approved, but when.
Because it will eventually be approved, and it’s really important for us here that investors know that we continue to stand up for them and we will defend them.”
GBTC to spot Bitcoin ETF Grayscale CEO Sonnenshein, who stated that they first applied for the exchange in April 2021, said that since then the SEC has approved the futures Bitcoin ETF, but has either rejected or postponed the applications related to the spot ETF.
SEC’s View of Spot ETFs!
The SEC has rejected spot Bitcoin ETF applications to date, “citing a lack of investor protection.”
grayscale The ETF application is currently deferred pending a decision in July.
While the SEC has not changed its mind about the Bitcoin Spot ETF so far, Grayscale Bitcoin ETF It is still unclear what decision he will make for his product.