Grayscale CEO Michael Sonnenshein says that now the SEC will be more inclined to approve an Ethereum EFT.
USA’s first Bitcoin ETF, $BITO, started trading on the New York Stock Exchange yesterday. Reaching $1 billion in volume, BITO became the second most traded ETF on its opening day. Speaking on CNBC’s Squawk Box, Grayscale CEO Sonnenshein said that this development will pave the way for an Ethereum ETF.
This development marked a historic moment for the crypto-asset community. The first Bitcoin ETF application was made eight years ago.
The US approval of the first Bitcoin futures ETF has raised questions in the community about when an Ethereum ETF will arrive. According to Grayscale CEO, the market may see an Ethereum ETF soon. He also noted that ETF adoption shows that the U.S. Securities and Exchange Commission (SEC) is now feeling more comfortable with cryptoassets. Sonnenshein added that it is only a matter of time before an Ethereum ETF is approved.