Essentially, Michael Sonnenshein, CEO of Grayscale Investments, aired his opinion on CNBC of the potential impact of a spot Bitcoin ETF on the crypto market. He outlined that the ETF’s approval would be a gateway to unlocking the plethora of advised assets that are currently worth an estimated $30 trillion in the US. With their platforms such as the Grayscale Bitcoin Trust GBTC and the Grayscale Ethereum Trust ETH , they plan for a feasible and swift institution participation in the crypto arena.
In a recent interview with Bloomberg TV, Sonnenshein declared that the U.S. SEC only make the nod to multiple spot Bitcoin ETFs simultaneously in order for the playing field to remain even for all. Subsequently, many people have offered their reponses on-air between MDBitcoin stating that Bitcoin ETFs would revolutionize the BTC marketplace and The Bitcoin Therapist phantom prospecting of a FOMO driven hike in prices with other cornucopier notions of the influence QE will have RMBI another user commented.
<p the last 24 hours of Bitcoin saw prices slightly advance by 1.3%, actual volume increasing by 11.05%. Curiously enough the weaker growth of only 2.7% over a period of 7 days, starkly contrasted a profitable run of three weeks ago à 14.5%. See the related article Bitcoin Moves Higher Amid Positive Analysts. vSentiments, Analyst Sees Numerous Spot ETFs Approvals Before January 2024
