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 <p>Also Read: <strong>Bloomberg Analysts Up U.S. Spot Bitcoin ETF Approval Odds To 75%</strong></p>  
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 <p><span data-preserver-spaces="true">In the interview, Sonnenshien mentions the unanimous voting by all three judges who&nbsp;</span><span data-preserver-spaces="true">ruled in favor of Grayscale</span><span data-preserver-spaces="true">‘s ETF and that the SEC must vacate its denial order on the Spot ETF. The CEO was open to mentioning how the legal battle started and how Grayscale took the SEC to court. In the interview, Sonnenshien says how the SEC would violate its mandate and also talks about the future plans of Grayscale.</span></p> 
 <h2 id="what-caused-grayscale-to-file-a-case-against-the-sec">What Caused Grayscale To File A Case Against The SEC?</h2> 
 <p>Last June, Grayscale decided to convert its Bitcoin Trust GBTC into an ETF and filed an application for the same with the SEC. When the SEC declined the application, Grayscale chose to take the legal route by seeking help from the Judicial system of the United States.</p> 
 <p>After going through several briefs and arguments to reach a consensus, it took over a year of strenuous legal battle with the SEC for relief. The judges voted in favor of Grayscale’s Spot ETF application, deciding to vacate the SEC’s denial order.</p>  
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 </div> 
 <h2 id="grayscale-ceo-michael-sonnenshien-s-views">Grayscale CEO Michael Sonnenshien’s Views</h2> 
 <p><span data-preserver-spaces="true">Speaking to </span><span data-preserver-spaces="true">Squawk Box</span><span data-preserver-spaces="true">, Sonnenshien said Grayscale is carefully considering its future options. The leading crypto asset management firm understands that the SEC still has 45 days to appeal the court’s decision either in the Washington Court or the Supreme Court.</span></p>  
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 <p>In conversation, Sonnenshien mentions that GBTC has over One Million American Investors who have been patiently supporting Grayscale in their endeavors, and any further incriminating efforts by the SEC would directly violate its own mandate, harming the investors. Sonnenshien says that the Grayscale lawyers are working constructively with the SEC in the interim period until the court issues the final mandate detailing the operational period’s next steps.</p> 
 <p>According to Sonnenshien, they are proactively working with the SEC to resolve the professional disagreement. He mentions that the foundation of Grayscale is to make cryptocurrencies accessible through existing rules and regulations of the United States on a go-forward basis. He also let slip that Grayscale plans to create a family of digital asset ETFs in the United States.</p> 
 <p>Sonnenshien also said that Grayscale has demonstrated that Bitcoin Spot and Bitcoin Futures are linked, and it is biased for the SEC to greenlight multiple Futures products but not spot products. He ended his statement by quoting the Court order that the SEC practices were “Arbitrary and Capricious” in deciding on Spot ETFs.</p> 
 <p>Also Read:&nbsp;What Can be SEC’s Next Move After Grayscale Victory in Spot Bitcoin ETF?</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/grayscale-ceo-says-company-s-lawyers-working-with-us-sec-tbt60973.html">https://thebittimes.com/grayscale-ceo-says-company-s-lawyers-working-with-us-sec-tbt60973.html</a></p>

Grayscale CEO Says Company's Lawyers Working With US SEC

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