Bitcoin may be in a relief rally now, Grayscale CEO Sonnenshein tells JoeSquawk SquawkCNBC. $GBTC
fund Michael Sonnenshein shed some light on the company’s continuing lawsuit against the SEC, on the potential lowering of fees, and whether investors will ever be able to redeem their crypto from Grayscale.“If we fail to convert GBTC into an ETF…”
Squawk Box co-host Becky Quick asked Sonnenshein a direct question on whether Grayscale is going to arrive at ta point where they will allow investors to redeem their crypto assets from Grayscale Bitcoin Trust. She made a reminder that GBTC is now trading at around 40 percent discount and that, Becky stated, might really worry investors.
Sonnenshein responded that currently, the priority for Grayscale is to win their lawsuit against the SEC, which they filed last year after the regulator rejected their application to convert GBTC into a Bitcoin ETF. If all those attempts to reach that through the court fail, the CEO said, in that case, the company would engage with regulators and shareholders to make a tender offer. However, he pointed out, this would be a great deviation from bringing a Bitcoin ETF to the market and a signal that the regulators refuse to bring BTC further into the regulatory field and protect investors.
"With Grayscale Bitcoin Trust, people aren't allowed to redeem...Is there a point where you are going to let investors start redeeming? Why don't you lower your fees in the meantime?"
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
SEC's 'one-dimensional' approach is slowing Bitcoin progress: Grayscale CEOThe CEO of cryptocurrency asset management firm Grayscale Investments, Michael Sonnenshein, slammed the U.S. Securities and Exchange Commission (SEC) for its conduct enforcing regulation on the crypto industry calling its approach “one-dimensional.”
Les mer »
Grayscale may ‘ultimately’ considers tender offer for bitcoin trust, if lawsuit against SEC fails, CEO saysMichael Sonnenshein, chief executive at digital asset manager Grayscale, said Tuesday the company would consider providing a tender offer to redeem shares of...
Les mer »
D.C. appeals court expedites oral arguments in Grayscale lawsuit against SECThe D.C. Court of Appeals has scheduled a date to hear oral arguments in Grayscale's lawsuit contesting the SEC's decision to deny the conversion of GBTC to an ETF.
Les mer »
SEC and Grayscale to Debate on a Bitcoin ETF in Court in MarchThe SEC and Grayscale will argue on a Bitcoin ETF in court in March.
Les mer »