We are going to see more regulation and consolidation in the industry, says Grayscale CEO

2022-12-20 10:30

Grayscale’s CEO says the company has been through the crypto winter before.

Sonnenshein expects more regulation and consolidation in the cryptocurrency industry.

However, he believes crypto, as an asset class, is here to stay.

More regulation is expected in the cryptocurrency industry

Grayscale CEO, Michael Sonnenshein, told CNBC in an interview on Monday, that he expects more regulation in the cryptocurrency industry. 

"It is a #crypto winter, we've been through this before. At the moment, what you're going to see is more regulation and more consolidation in the industry," says @Grayscale CEO @Sonnenshein. "I've never been more confident that crypto as an asset class is here to stay." pic.twitter.com/SqWhfvkUvp

— Squawk Box (@SquawkCNBC) December 19, 2022

While talking to CNBC’s Squawk Box, Sonnenshein stated that it is the crypto winter, and the company has been there before. 

“It is a crypto winter, we’ve been through this before, unfortunately, we are going through it again, and we may have to go through it again in the future.  At the moment, what you’re going to see in this crypto winter would be more regulation and more consolidation in the industry. We’ve seen time and again bad actors weeded out of the ecosystem, and crypto emerges more resilient and stronger each time we see a winter.”

When asked if he expects the situation to play out the same way this time around, the Grayscale CEO said he does. He added that;

“I’ve been in the crypto space for nine years. I’ve been through all kinds of cycles, and I’ve never been more confident and optimistic that crypto as an asset class is here to stay.”

The Grayscale Bitcoin Trust continues to underperform

The Grayscale Bitcoin Trust (GBTC), the leading investment product offered by Grayscale, has been underperforming in recent months. 

Last week, the Grayscale Bitcoin Trust (GBTC) shares hit a record-high discount rate relative to the price of Bitcoin, surpassing 50%.

Concern about Grayscale’s reserves, higher fees and other challenges are the reason behind the discount. Our analyst believes that the discount will not close any time soon. 

The increase in discount came shortly after the US Securities and Exchange Commission (SEC) reaffirmed its reasons for denying Grayscale’s application to convert the GBTC into an exchange-traded fund (ETF).

The post We are going to see more regulation and consolidation in the industry, says Grayscale CEO appeared first on CoinJournal.

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says grayscale crypto ceo consolidation industry regulation

Источник: coinjournal.net

says grayscale → Результатов: 103


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ProShares CEO says Bitcoin Futures ETF Coming on Tuesday, Grayscale Confirms Filing to Convert GBTC into ETF

In anticipation of the first Bitcoin ETF, which will finally be coming to the US this week, Bitcoin hit $63,000. ProShares will be launching its exchange-traded fund (ETF) linked to CME-based Bitcoin futures on the New York Stock Exchange (NYSE) under the ticker ‘BITO’ on Tuesday, the firm and the exchange have reported.

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Grayscale’s global head of ETF reads Chair Gensler’s comments to be “very positive,” while ProShares’ head of investment strategy says, “the advantage of this approach is clear.” The post 4 Bitcoin Futures-backed ETFs Filed Since SEC Chair Gary Gensler Signaled His Openness to Them first appeared on BitcoinExchangeGuide.

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A “Difficult Time” Ahead for Risk Assets, While Fed Has President Biden’s Blessing to Do ‘Whatever Necessary’ to Support Strong Economy

“The opportunity for bitcoin remains very, very bright,” according to Grayscale CEO, based on who's investing, their size of allocations, and with the conviction, they are doing that. As for tapering, Guggenheim Chairman says the earliest it would start would be March next year.

2021-7-23 20:39


Фото:

Amid Extremely Divided Bitcoin Market, HODLers Show Remarkable Resilience

The Bitcoin market is currently indecisive on a bullish or bearish path, and this may exacerbate crypto volatility, says Glassnode analysts in their Monday analysis of the BTC on-chain activity. Even as the market continues to ponder the Grayscale GBTC unlock, the Purpose ETF product and over-the-counter inflows went down last week, which suggests low […]

2021-7-20 16:38


Grayscale Takes Another Step Towards GBTC’s Conversion into a Bitcoin ETF, Partners with the World’s Largest Custodian

Grayscale says engaging BNY Mellon is an “important milestone" as part of our commitment to converting GBTC into an ETF; however, many feel a Bitcoin ETF might not be coming soon. The post Grayscale Takes Another Step Towards GBTC’s Conversion into a Bitcoin ETF, Partners with the World’s Largest Custodian first appeared on BitcoinExchangeGuide.

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