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Bitcoin ETF

Bitcoin

CEO Michael Sonnenshein believes that market participants’ negotiations with the U.S. <a href="https://crypto.news/sec-postpones-decision-on-grayscales-application-for-spot-ethereum-etf/" data-type="link" data-id="https://crypto.news/sec-postpones-decision-on-grayscales-application-for-spot-ethereum-etf/">SEC</a> about launching a spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) <a href="https://crypto.news/best-crypto-etf/">ETF</a> are proceeding optimsitcally. 
The CEO shared this opinion with <a href="https://finance.yahoo.com/video/bitcoin-grayscale-ceo-hopeful-rally-225952842.html" target="_blank" rel="noopener">Yahoo Finance</a> reporters and noted that SEC commissioners are working to clarify details on applications from market participants to launch a spot Bitcoin ETF. 
Such actions of the Commission, in his Sonnenshein’s opinion, indicate the regulator’s interest in resolving issues related to the possible launch of the instrument in the United States. 
<blockquote class="wp-block-quote"> 
 “We won against the SEC, vacated that denial order of GBTC to uplist as a spot Bitcoin ETF. I think since that time, the macro environment, because bitcoin means different things to different folks, you have seen some investors flocking to bitcoin, flocking to gold, in a rising rate environment as an inflation hedge for their portfolios.” <cite>Michael Sonnenshein, Grayscale Investments CEO </cite>
</blockquote> 
 You might also like: <a href="https://crypto.news/grayscale-updates-spot-bitcoin-etf-application-after-meeting-with-sec/"> Grayscale updates spot Bitcoin ETF application after meeting with SEC </a> 
In October, the U.S. Court of Appeals formally <a href="https://crypto.news/grayscale-makes-new-attempt-for-spot-bitcoin-etf-approval/">approved</a> a decision requiring the SEC to reconsider Grayscale Investments’ application to convert GBTC into a spot ETF based on the first cryptocurrency. The new document repeats the decision of the appellate court. According to the ruling, the management company proved that the proposed <a href="https://crypto.news/grayscales-bitcoin-etf-triumphs-over-sec-fueling-crypto-market-rally/">spot ETF</a> is similar to already approved Bitcoin futures exchange-traded funds. 
In June, the asset manager&nbsp;sued the regulator for refusing to convert their flagship trust. The company sent the corresponding application back in October 2021. 
 You might also like: <a href="https://crypto.news/coinbase-bitcoin-mining-stocks-soar-after-grayscales-win-over-sec/"> Coinbase, Bitcoin mining stocks soar after Grayscale’s win over SEC </a>

Grayscale Investments CEO hints at optimistic scenario for spot Bitcoin ETF

crypto.news

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