Grayscale CEO: It is not sure whether to resubmit the spot bitcoin ETF application to the SEC

Odaily Planet Daily News After Grayscale won the lawsuit against the SEC, Grayscale CEO Michael Sonnenshein is not yet sure whether the company needs to resubmit the spot Bitcoin ETF application to the SEC. Michael Sonnenshein said in an interview: "We need to focus on the final order that the court will issue, so as to clarify the final operating procedure. We don't know what the final opinion will be until the end of the relevant period (45 days after the ruling)." Sonnenshein also said that the SEC should no longer have reason to prevent spot bitcoin ETF products from entering the market. Regarding GBTC's negative premium, Sonnenshein said: "The narrowing of the negative premium shows that the market is more confident in the conversion of GBTC to ETFs today than a few days ago, but it is still not fully convinced that GBTC can complete the conversion. Considering Gensler and the SEC's confidence in the cryptocurrency market The hostility shown, it's not illogical." (Bloomberg) According to previous news, court documents show that Grayscale won the lawsuit against the SEC. Grayscale CEO Michael Sonnenshein said in an interview with CNBC's Squawk Box show that when the Grayscale Bitcoin Trust (GBTC) converts to a spot bitcoin ETF, it will definitely reduce management fees. It is reported that the current GBTC annual fee is 2%.