Bitcoin is no longer just a fad, according to Grayscale CEO Michael Sonnenshein.
Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.The entrance of large investment firms like BlackRock and Fidelity into the race to launch a spot bitcoin ETF fund illustrates the extent to which bitcoin is no longer"a passing fad," according to Grayscale chief executive Michael Sonnenshein.
The leader of the largest crypto asset manager told The Block that"market participants are reacting favorably to the entrance of legacy financial institutions into Bitcoin — a trend that lends further validity to an asset that was once believed to be a passing fad," he said. Indeed, on Wednesday the CEO of BlackRock — which submitted a surprise filing for a spot bitcoin ETF in mid-June — told Fox Business that bitcoin was equivalent to
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