Michael Sonnenshein: “launching ETFs on Bitcoin is just a matter of time”

Michael Sonnenshein, managing director of Grayscale Investments, believes that approving Bitcoin traded exchange traded funds (ETFs) is just a matter of time.

"We think the launch of ETFs on Bitcoin is a matter of time. Regulators have done an excellent job, they are trying to stay on the cutting edge of the development of digital assets as a class," said Sonnenshein in an interview with Anthony Pompliano, founder of Morgan Creek Digital.

The managing director of Grayscale believes that even with current laws, you can work with digital assets, but regulators are simply not ready to approve the launch of ETF on Bitcoin. However, the attitude of regulators towards digital assets is gradually changing. 

"I think the actions of regulators show that they want to see the market more mature. Maybe they want to see a more global Bitcoin warrant book, maybe create joint observation agreements, or maybe they are waiting for more precise regulation and supervision of various platforms and markets where digital assets are traded," says Sonnenshein.

says Sonnenshein.

Recall that in June, WisdomTree filed an application to launch an ETF, a 5% investment in which will be invested in Bitcoin futures on the Chicago Mercantile Exchange (CME). 

SOURCE