{"id":302532,"date":"2021-07-19T14:36:00","date_gmt":"2021-07-19T11:36:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/grayscale-100-committed-to-turning-gbtc-into-bitcoin-etf-ceo\/"},"modified":"2021-07-19T14:36:00","modified_gmt":"2021-07-19T11:36:00","slug":"grayscale-100-committed-to-turning-gbtc-into-bitcoin-etf-ceo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/grayscale-100-committed-to-turning-gbtc-into-bitcoin-etf-ceo\/","title":{"rendered":"# Grayscale \u2018100% committed\u2019 to turning GBTC into Bitcoin ETF \u2014 CEO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f78099c5a5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f78099c5a5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/grayscale-100-committed-to-turning-gbtc-into-bitcoin-etf-ceo\/#Sonnenshein_%E2%80%9CIf_not_when%E2%80%9D_for_US_Bitcoin_ETF\" >Sonnenshein: \u201cIf, not when\u201d for U.S. Bitcoin ETF\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/grayscale-100-committed-to-turning-gbtc-into-bitcoin-etf-ceo\/#Not_all_quiet_on_the_western_front\" >Not all quiet on the western front<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Grayscale \u2018100% committed\u2019 to turning GBTC into Bitcoin ETF \u2014 CEO <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zZGM4ZTgxODM2YTlmNTAxMzhlMzU3ZDQ1YmVhZDVkOC5qcGVn.jpeg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>\n<p dir=\"ltr\">The head of crypto investment giant Grayscale believes that only a \u201ccouple of maturation points\u201d separate the United States from its first Bitcoin (BTC) exchange-traded fund (ETF).<\/p>\n<p>Speaking to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1417074277979934722\">CNBC<\/a> on July 19, Michael Sonnenshein reiterated that a U.S. ETF is a matter of \u201cnot \u2018if,\u2019 but \u2018when.\u2019\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sonnenshein_%E2%80%9CIf_not_when%E2%80%9D_for_US_Bitcoin_ETF\"><\/span>Sonnenshein: \u201cIf, not when\u201d for U.S. Bitcoin ETF\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Regulators currently have 13 ETF <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications under consideration, and the U.S. lags behind neighboring Canada when it comes to giving them the green light.<\/p>\n<p>Years of applications and rejections have gone by, and some believe that an ETF would ultimately create bearish price pressure for Bitcoin in the long term.<\/p>\n<p>Nonetheless, Grayscale CEO Sonnenshein says the firm is \u201c100% committed\u201d to transforming its Bitcoin product, the Grayscale Bitcoin Trust ($GBTC), to ETFs once conditions are right.<\/p>\n<p>\u201cI think in our seat, from our view of the world, we\u2019re really looking for a couple of different points of maturation in the underlying market, and that\u2019s really the final stages of what we think regulators need to approve those types of products and give investors the protections that they\u2019re looking for,\u201d he told the network.<\/p>\n<p>Last week, Grayscale announced a partnership with U.S. banking giant BNY Mellon, which will now provide services for GBTC when it undergoes its metamorphosis.<\/p>\n<p>GBTC is already in the headlines in crypto circles over its unlocking events, the largest of which occurred Sunday, with opinions mixed over their potential price impact.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Not_all_quiet_on_the_western_front\"><\/span>Not all quiet on the western front<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional advances continue to surface this month despite low volumes and overall lack of direction on the market.<\/p>\n<p><em><strong>Related: Historically low spot volumes and investor indecision weigh on Bitcoin price<\/strong><\/em><\/p>\n<p>As Cointelegraph reported, Bank of America reportedly gave the green light for Bitcoin futures trading last week.<\/p>\n<p>A survey meanwhile showed that existing institutional BTC investors are far from done with the asset, with 40% saying they plan to buy more in future.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/grayscale-100-committed-to-turning-gbtc-into-bitcoin-etf-ceo\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Grayscale \u2018100% committed\u2019 to turning GBTC into Bitcoin ETF \u2014 CEO &#8221; The head of crypto investment giant Grayscale believes that only a \u201ccouple of maturation points\u201d separate the United States from its first Bitcoin (BTC) exchange-traded fund (ETF). Speaking to CNBC on July 19, Michael Sonnenshein reiterated that a U.S. ETF is a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":302533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zZGM4ZTgxODM2YTlmNTAxMzhlMzU3ZDQ1YmVhZDVkOC5qcGVn.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75849],"class_list":["post-302532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-etf"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/302532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=302532"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/302532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/302533"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=302532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=302532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=302532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}