First Bitcoin ETF: According to Grayscale only a matter of time

The Bitcoin community is still waiting for the first officially approved Bitcoin ETF. Because despite the high profile and popularity of digital assets as an asset class, there is still no approved ETF (Exchange Traded Fund). However, the investment director at Grayscale is certain that approval is only a matter of time.

Grayscale is convinced that approval for Bitcoin ETF is only a matter of time

Anthony Pompliano, well known in the crypto community, known as Pomp, interviewed the director of Grayscale a few days ago. The company, which specializes in investments in cryptocurrencies such as Bitcoin and Ethereum, is now the first point of contact for institutional investors. Grayscale claims to have cryptocurrencies worth more than $ 4 billion USD.

With the trusts, Grayscale offers an offer that already goes in the direction of an ETF. In an interview with Anthony Pompliano, Michael Sonnenshein, Managing Director at Grayscale, reveals that the approval of a Bitcoin ETF is only a matter of time. When Pompliano asked what Grayscale thought of the current situation regarding the Bitcoin ETF, Sonnenshein replied:

We think that approval of a Bitcoin ETF is not a question of whether, but when. The regulators have done a fantastic job of keeping up with digital asset classes.

The authorities should be pleased with the compliment. Because the crypto market came quickly and continues to develop. What are days in the crypto world can be months in the traditional economy. Sonnenshein explains:

We like to say: A week in the world of digital currencies is like six months in the real world.

Sonnenshein is pleased with the achievements of the authorities so far. In his opinion, regulators still need a growing maturity of the market before a Bitcoin ETF is approved. You can watch the full interview with the Grayscale director here:

Grayscale as a contact point for institutional investors

Grayscale not only offers investors the purchase of bitcoins. In addition to the world's largest cryptocurrency and Ethereum, there are also some digital assets that may surprise many. Investors can choose between new and different trusts. Tobe offered:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Horizen (ZEN)
  • Litecoin (LTC)
  • Stellar Lumens (XLM)
  • Ripple (XRP)
  • Zcash (ZEC)

Thanks to a significant increase in investments in the second quarter of 2020, the investment company now owns cryptocurrencies worth more than $ 4 billion.

Grayscale Investments is now managing more than $ 4 billion in cryptocurrencies

Markus from Kryptokumpel.de
Photo credit: pixabay.com | CCo