Grayscale Investments CEO Michael Sonnenshein expressed optimism about their talks with the U.S. Securities and Exchange Commission (SEC) regarding the Spot Bitcoin ETF (Exchange Traded Fund). They stated that they are in constant communication with the SEC and that the SEC has shown interest in the matter and is willing to make progress.
Grayscale Investments is struggling to launch a Spot Bitcoin ETF in the United States. Last year, they sued the SEC after their application to convert the GBTC fund to a Spot ETF was rejected. This year, in August, they scored a significant victory when three judges ruled that the SEC must reconsider the rejected application.
SEC Chairman Gary Gensler continues to send negative signals to the crypto market. In a speech to the Senate Banking Committee in September, he stated that the institution is still reviewing the court decision. Some experts believe that the court’s decision could be in favor of Grayscale Investments, but Gensler continues to criticize crypto projects and companies, expressing concerns about fraud and manipulation.
JPMorgan CEO Jamie Dimon drew attention by targeting Bitcoin and altcoins at the Senate Banking Committee, saying that if he were in government, he would shut down crypto. Yahoo Finance asked Sonnenshein about Dimon’s comments.
Sonnenshein stated that every manager will have their own views on new technologies, and that these types of institutions are starting to develop business models to adapt to new technologies.