Grayscale, the world’s largest cryptocurrency asset management firm, is optimistic about the future of its spot ETFs based on cryptocurrencies other than Bitcoin and Ethereum. Grayscale’s Global Head of ETFs, David LaValle, expressed confidence in this regard during a recent roundtable.
When asked if he believes ETFs based on other cryptocurrencies could gain regulatory approval in the next two to three years, LaValle answered in the affirmative. “I think it’s 100%,” he said. He explained that the path to digital asset ETFs is through the regulated futures market. However, he believes the path will widen as the digital asset market continues to expand and mature.
“We’ve already proven that we can do this with Bitcoin, and we’re having a really productive conversation around Ethereum,” LaValle added. This announcement follows Grayscale’s GBTC fund, a spot Bitcoin ETF that began trading in January. GBTC remains the largest fund in the market despite experiencing multibillion-dollar outflows.
While many in the industry expect spot Ethereum ETF applications to be rejected next month, there is a growing consensus that the U.S. Securities and Exchange Commission (SEC) will eventually approve Ethereum-based investment vehicles.
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Source: https://en.bitcoinsistemi.com/will-spot-etfs-for-altcoins-other-than-bitcoin-and-ethereum-be-approved-giant-companys-etf-chief-answers/