Bitcoin ETF “WHEN NOT IF”

Michael Sonnenshein, CEO of Grayscale, discusses the possibility of BlackRock getting the first Bitcoin ETF and how it affects their plans. The CEO states that Grayscale has long been prepared for a marketplace with multiple Bitcoin ETFs, so they are focused on converting GBTC. He also mentions that they are awaiting an opinion from the DC Circuit Court, which could come by the fall. Regarding the suit with the SEC, the CEO expresses optimism for a favorable outcome from the court, which would allow them to work with the SEC to uplift GBTC to the New York Stock Exchange as an ETF. He also talks about surveillance-sharing agreements and how they are actively in discussion with Coinbase and the New York Stock Exchange. The CEO believes that it’s not a matter of if but when there will be an ETF for Bitcoin, and that there is a lot of pent-up demand for it. Lastly, he briefly discusses the resolution of a suit with Fir Tree and how it frees up their bandwidth to focus on the GBTC conversion