Speaking to CNBC today, Grayscale CEO Michael Sonnenshein said that a Spot Ethereum ETF is “a matter of when, not a matter of if.” Indeed, Sonnenshein was featured on the prominent Squawk Box program discussing the investment product. Moreover, Grayscale’s head revealed his confidence in his optimism because of the company’s work alongside regulators.
Within the interview, Grayscale’s CEO said that the team would follow the same pattern of work done to get a Spot Bitcoin ETF approved. Specifically, he noted the required focus on investor protections and similar functions. However, he did assure that it was “too early to say” if such an approval would require a lawsuit as the Bitcoin ETF approval had.
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Grayscale CEO Expresses Confidence in Ethereum ETF
At the start of 2024, the digital asset market was inundated with optimism after landmark regulatory approval. Indeed, the US Securities and Exchange Commission (SEC) approved 11 Spot Bitcoin ETFs to arrive just ten days into the new year. Subsequently, all eyes began to seek out what digital asset could find regulatory approval for a similar investment product.
Grayscale CEO Michael Sonnenshein recently sat down with CNBC where he said that a Spot Ethereum ETF is “a matter of when, not a matter of if.” Moreover, he reiterated his confidence in that statement. Specifically, Sonnenshein noted the extensive work that the firm had done in meeting SEC demands to implement a Spot Bitcoin ETF. Furthermore, he assured that the process is repeatable for Ethereum.
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However, the interview did question the willingness of SEC chair Gary Gensler to approve an ETH ETF. Specifically, they asked if a lawsuit would be necessary, as it had been with Bitcoin. In response, Sonenshein said that it was “too early to say.” However, he noted the connection and similarities in Etherem’s position to Bitcoin’s before the Spot ETF approval.
Earlier this month, several execs shared their belief that an ETH ETF was more likely than not. Specifically, three had agreed that the prospects of the investment product were a 50% chance. However, it appears that Graysclae at least is confident in its ability to get the product approved. Subsequently, most other Bitcoin ETF issuers likely share a similar confidence.