Grayscale CEO: “GBTC conversion to spot ETF”, if approved, may bring “billions of dollars” to investors
According to reports, Michael Sonnenstein, CEO of Grayscale Investments, said in a recent podcast interview that “it is impossible to imagine” why the United States Securities and Exchange Commission (SEC) “does not want” to protect Grayscale investors and return the real asset value to them.
Interpretation of this information:
The CEO of Grayscale Investments, Michael Sonnenstein, recently made a comment in a podcast interview about the lack of protection for Grayscale investors by the United States Securities and Exchange Commission (SEC). Sonnenstein expressed confusion about why the SEC would not want to protect Grayscale investors and return the real asset value to them.
Grayscale Investments is a cryptocurrency investment firm that allows investors to own digital assets without having to buy or store them directly. The firm manages several investment funds, including the Bitcoin Trust, which has been a popular choice among investors. However, the SEC has not yet approved the Bitcoin Trust as an exchange-traded fund, which has caused some concerns for Grayscale investors.
Many investors are concerned that the SEC’s lack of approval for the Bitcoin Trust will prevent them from getting the full value of their investment. Sonnenstein’s comment suggests that he shares these concerns and is frustrated with the SEC’s lack of action.
It is unclear why the SEC has not yet approved the Bitcoin Trust as an exchange-traded fund. The agency has been hesitant to approve other cryptocurrency investment products in the past due to concerns about volatility, liquidity, and market manipulation. However, some experts believe that the agency may eventually approve the Bitcoin Trust once these concerns are addressed.
Overall, Sonnenstein’s comment highlights the difficulties that Grayscale Investments and its investors are facing due to the SEC’s lack of action. It remains to be seen whether the agency will eventually approve the Bitcoin Trust or take other steps to protect Grayscale investors in the future.
This article and pictures are from the Internet and do not represent 96Coin's position. If you infringe, please contact us to delete:https://www.96coin.com/40168.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.