“I suppose all choices are on the table,” same the Grayscale CEO, adding that the company has place its “full resources” into changing its flagship Bitcoin trust.
Grayscale CEO Michael Sonnenshein aforesaid the firm is power train up for a legal fight if Grayscale’s Bitcoin Spot exchange-traded fund (ETF) is denied by the united states Securities and Exchange Commission (SEC).
In an interview with Bloomberg on Tues, Sonnenshein was asked if he would think about the administrative Procedure Act (APA) case possibility if the appliance for its Bitcoin Spot ETF was denied by the money regulator.
“I think all choices ar on the table,” he responded, highlight the importance of continuous to advocate for investors. the next call date for the approval or denial of the investment product is July 6, 2022. it had been previously delayed in February and was originally filed in October 2021.
“The Grayscale team has been putting the full resources of our firm behind converting GBTC, our flagship fund, into an ETF. It’s really important that investors know that we have and will continue to advocate for them.”
Grayscale declared in October 2021 that it was aiming to convert its Bitcoin Trust to a Bitcoin (BTC)-settled ETF. The SEC delayed a choice to approve the product in December 2021, citing that a extended amount was required to consider the planned changes and their repeated this action in February.
( Jesse Coghlan, Cointelegraph, 2022 )