Grayscale CEO Says Spot Bitcoin ETF Could Usher In $30 Trillion to The Market – Here’s More
Grayscale CEO Michael Sonnenshein has restated growing optimism over an investment drive in the cryptocurrency market in the event of a spot Bitcoin (BTC) ETF approval by the Securities and Exchange Commission (SEC).
In a recent CNBC interview, Sonnershein noted that the influx of institutional investors in the market hinged on growing market optimism over a potential ETF approval by regulators.
He stated that many investors are now including BTC in their investment portfolio adding that an approval by the SEC will drive that exposure as the advise market in the United States can potentially open up a $30 trillion window.
“(An approval) will unlock the opportunity for a part of the investment community that got worse has been locked out of the opportunity of participating and having Bitcoin in their portfolios; we’re talking about the advise market here in the US, which is today about $30 trillion worth of advised wealth.”
In recent times, many analysts have speculated a surge in Bitcoin price and a new financial cycle in the market on the heels of an ETF. Notably, this anticipated surge drives inflows into Bitcoin institutional products driving up the Assets Under Management (AUM).
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