Grayscale CEO “Tender offer for investment trust GBTC is a last resort”
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How to eliminate negative premium Michael Sonnenshein, CEO of US crypto asset (virtual currency) management company Grayscale, said in an interview with US CNBC on the 24th that if legal measures regarding the company’s bitcoin investment trust (GBTC) ETF conversion stalled, GBTC announced that it would consider a tender offer for its shares. “With Grayscale Bitcoin Trust, people aren’t allowed to redeem…Is there a point where you are going to let investors start redeeming? Why don’t you lower your fees in the meanwhile?” @BeckyQuick asks @Grayscale CEO @Sonnenshein: pic.twitter.com/bUY95jjzHv —Squawk Box (@SquawkCNBC) January 24, 2023 GBTC is an investment trust
Crypto asset manager Grayscale has had another meeting with the US Securities and Exchange Commission as final ETF details get ironed out. Meanwhile, the company’s chief executive said that its clients would lose out if it can’t convert the Grayscale Bitcoin Trust (GBTC) to a spot ETF. On December 20,…
In an appearance on CNBC today, the CEO of Grayscale Investments, Michael Sonnenshein, shared insights regarding the potential impact of a spot Bitcoin Exchange-Traded Fund (ETF) on the cryptocurrency market. Sonnenshein highlighted that a spot Bitcoin ETF could “unlock” around “$30 trillion worth of advised wealth.” Sonnenshein discussed the significance…