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Grayscale CEO: All Firm’s Products Could Convert to ETFs
Summary: Grayscale Investments CEO Michael Sonnenshein said that he expects all of the fund group’s products to one day become ETFs if regulation allows for the conversions. The largest digital currency asset manager — with about $42 billion assets under management as of Oct. 1 — has already revealed plans to convert its Grayscale Bitcoin Trust ...
Grayscale Investments CEO Michael Sonnenshein said that he expects all of the fund group’s products to one day become ETFs if regulation allows for the conversions.
The largest digital currency asset manager — with about $42 billion assets under management as of Oct. 1 — has already revealed plans to convert its Grayscale Bitcoin Trust (GBTC) as other fund groups also seek approval for ETFs that would invest directly in the crypto asset.
The fourth stage of the Grayscale product life cycle, Sonnenshein explained, is conversion to ETFs. “If we look into the future and regulatory winds are blowing at our backs, we would anticipate that the Grayscale products will all move to be digital currency ETFs,” the CEO said during a virtual panel.
By Amy Liu
Tags: ETFs,Grayscale
Link: Grayscale CEO: All Firm’s Products Could Convert to ETFs [Copy]
