Cryptocurrency investment giant Grayscale believes that only "a few points of maturity" separate the United States from Bitcoin's first trading fund (ETF).
Speaking to CNBC on July 19, Michael Sonnenshein said:
Regulators are currently considering 13 ETF programs, and the United States is lagging behind Canada in licensing them.
It has been requested and rejected for years, and some believe that the ETF will ultimately put long-term price pressure on Bitcoin.
However, Michael Sonnenshein says the company is "100% committed" to converting its Grayscale Bitcoin Trust (GBTC) to ETF.
Last week, Grayscale announced a partnership with US banking giant BNY Mellon, which now offers GBTC-related services as it evolves into GBTC.
As reported by Cointelegraph, the Bank of America reportedly gave the green light for bitcoin futures last week.
Meanwhile, a poll found that 40% of Bitcoin institutional investors said they intended to buy more in the future.
Source:
https://cointelegraph.com/news/grayscale-100-committed-to-turning-gbtc-into-bitcoin-etf-ceo
