Grayscale CEO: BlackRock ETF filing a ‘moment of validation’ for Bitcoin
BlackRock’s commitment to advancing its crypto efforts only lends to the validity of Bitcoin as an asset class, said Michael Sonnenshein. The recent tsunami of spot Bitcoin (BTC) exchange-traded fund (ETF) filing s should be seen as a “ moment of validation ” for Bitcoin, says Grayscale Investments CEO Michael Sonnenshein. During a July 12 interview on CNBC’s Last Call, Sonnenshein rejected the notion that BlackRock’s entrance to the Bitcoin ETF race made it “uncool.” “To see, literally, the largest asset manager in the world publicly commit to advancing their crypto efforts only lends to the validity of the asset class and the staying power it has.” In just the last four weeks, at least seven major institutional firms including BlackRock have applied for a spot Bitcoin ETF in the United States. "It's a moment of validation ," says @Grayscale CEO @Sonnenshein on $BLK aiming to launch a $BTC spot ETF. "To see the largest asset manager in the world publicly commit t...