Grayscale Says Bitcoin ETF Only a Matter of Time
Grayscale’s managing director talks inevitability of a Bitcoin exchange-traded fund, or ETF. The crypto market may finally see a Bitcoin ETF approval, although regulators need more time.
“We think a Bitcoin ETF is a matter of when, not a matter of if,” Grayscale Investments managing director, Michael Sonnenshein, told Morgan Creek Digital co-founder Anthony Pompliano in a July 15 interview. “The regulators have done a fantastic job of staying ahead of the curve on the digital currency asset class as a whole,” he added.
The crypto space moves fast
Explaining the speed at which the global digital crypto world moves, Sonnenshein described the clarity U.S. regulatory bodies had provided the industry stems from their proactivity.
“There are, in fact, ways to work with regulators on the asset class within existing frameworks, but they’re just not ready to approve an ETF yet,” he explained.
So many Bitcoin ETF attempts denied
A Bitcoin ETF, giving investors and traders access to Bitcoin on mainstream financial markets, has eluded the crypto space many times over the last few years. The U.S. Securities and Exchange Commission, or SEC, has denied numerous attempts at such a product, from multiple companies.
“I think that they’ve been pretty explicit about wanting to see certain dynamics within the market mature a little bit more,” Sonnenshein said of U.S. regulating bodies. Noting examples, Sonnenshein added: “Things like maybe a more global order book for Bitcoin, maybe things like surveillance sharing agreements, maybe a little bit more regulation and oversight of the different marketplaces and venues where digital assets are being traded.”
Reasons for the SEC’s previous Bitcoin ETF denials include a lack of proof against market manipulation and confirmation of Bitcoin’s market magnitude, among other critiques.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 82.4% | 30 | $62 164.65 | -0.16% | 2.12% | $1 228 688 676 125 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 78% | 41 | $2 439.44 | 0.66% | -0.47% | $293 658 971 325 |  |
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| 3 |  USDT |
Tether predictions | 91.6% | 1 | $0.999407 | -0.05% | -0.06% | $119 786 207 474 |  |
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| 4 |  BNB |
Binance Coin predictions | 83.2% | 33 | $580.58 | 2.77% | 5.89% | $84 725 328 378 |  |
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| 5 |  SOL |
Solana predictions | 73.6% | 45 | $143.42 | -0.61% | -1.32% | $67 300 582 072 |  |
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| 6 |  USDC |
USD Coin predictions | 93.6% | 1 | $1.000269 | 0.01% | 0.01% | $35 067 275 336 |  |
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| 7 |  XRP |
XRP predictions | 76.4% | 43 | $0.530852 | 0.17% | -11.17% | $30 070 162 104 |  |
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| 8 |  DOGE |
Dogecoin predictions | 83.6% | 30 | $0.107094 | -1.74% | -0.07% | $15 666 453 896 |  |
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| 9 |  TRX |
TRON predictions | 94.8% | 1 | $0.159821 | 2.52% | 4.01% | $13 835 849 351 |  |
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| 10 |  TON |
Toncoin predictions | 82.4% | 31 | $5.20 | -0.20% | -3.37% | $13 188 404 059 |  |
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| 11 |  ADA |
Cardano predictions | 79.6% | 35 | $0.344643 | -2.04% | -2.27% | $12 049 085 698 |  |
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| 12 |  AVAX |
Avalanche predictions | 69.6% | 55 | $26.35 | -0.99% | 1.67% | $10 710 900 031 |  |
|
| 13 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
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| 14 |  WTRX |
Wrapped TRON predictions | 92.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
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| 15 |  SHIB |
SHIBA INU predictions | 58.4% | 94 | $0.000017 | -1.56% | 4.88% | $10 163 622 585 |  |
