- Grayscale CEO Michael Sonnenshein expressed confidence during a CNBC interview that an SEC-approved spot Ethereum ETF is a matter of “when not if” based on Grayscale’s experience getting a Bitcoin ETF approved.
- Sonnenshein’s optimism echoes earlier positive sentiments this year about the prospects of an Ethereum ETF after the SEC approved several Bitcoin ETFs.
- While SEC Chair Gensler’s stance is still uncertain, Grayscale plans to follow the same process as with the Bitcoin ETF to work towards getting an Ethereum ETF approved for investors.
Grayscale CEO Michael Sonnenshein expressed optimism about the prospects of an SEC-approved spot Ethereum ETF during an interview on CNBC’s Squawk Box.
Sonnenshein’s Confidence in the Ethereum ETF
During the CNBC interview, Sonnenshein stated confidently that a spot Ethereum ETF is a matter of “when not if.” He pointed to Grayscale’s experience getting a spot Bitcoin ETF approved by working closely with regulators and focusing on investor protections. While Sonnenshein said it was too early to know if a lawsuit would be necessary like with the Bitcoin ETF, he was optimistic about following a similar process to get an Ethereum ETF approved.
Earlier Optimism Around an Ethereum ETF
Sonnenshein’s confidence echoes earlier optimism this year about an Ethereum ETF. After the SEC approved several spot Bitcoin ETFs in early 2023, many turned their attention to the prospects of an Ethereum ETF. Several executives agreed earlier this month that the chances were 50/50 for Ethereum ETF approval in the near future. It seems most Bitcoin ETF issuers share Grayscale’s confidence.
The Path Forward
While SEC Chair Gary Gensler‘s willingness to approve an Ethereum ETF is still in question, Grayscale is clearly gearing up for the process. If Grayscale can follow the same playbook that led to Bitcoin ETF approval, investors may see an SEC-approved spot Ethereum ETF sooner rather than later. The digital asset community will be watching closely for updates as Grayscale works to make this key investment product a reality.
