Michael Sonnenshein Peter Maccormack Usa UPS ETF SEC CEO Bitcoin Michael Sonnenshein Peter Maccormack Usa

Grayscale CEO challenges SEC's denial of application

Reading now: 976

Michael Sonnenshein, CEO of Grayscale Investments, stated in a recent interview that he «can't imagine» why the United States Securities and Exchange Commission (SEC) «wouldn't want» to protect Grayscale investors and return the true asset value to them.

Sonnenshein made this statement in response to a question regarding why the SEC «wouldn't want» to protect Grayscale investors.

Sonnenshein explained that the SEC «violated the administrative procedures act» by denying approval for the Grayscale Bitcoin Trust (GBTC) to be a spot Bitcoin (BTC) exchange-traded fund (ETF), in June 2022, during an interview that took place on February 25 on What Bitcoin Did, a popular podcast that is hosted by Peter McCormack.

The podcast is called What Bitcoin Did. He stated that this act ensures that the regulator does not show «favoritism» or act «arbitrarily,» adding that the SEC acted «arbitrarily» by approving Bitcoin Futures ETFs while rejecting «GBTC's conversion.» He explained that this act ensures that the regulator does not show «favoritism» or act «arbitrarily.» Grayscale Investments saw the SEC's approval of the first Bitcoin exchange-traded funds (ETFs) as «a indication» that the SEC was «changing its approach about Bitcoin,» according to Sonnenshein's observation.

Read more on blockchain.news
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News