According to Grayscale CEO Michael Sonnenshein, there is unprecedented interest in Bitcoin ETFs within the financial industry. Speaking on CNBC on March 1, Sonnenshein discussed the strong demand for spot Bitcoin ETFs and the market’s reaction to their recent introduction, emphasizing the high level of investor interest. Hän on kuollut. There has been a significant amount of built-up demand because of the launch of spot Bitcoin ETFs. …We are witnessing a significant influx of funds from investors, exceeding the amount of new bitcoin entering the market daily. This is driving up the price of bitcoin. He mentioned that a variety of investors, both individual and institutional, are interested in these ETFs. However, CNBC reported that the Grayscale Bitcoin Trust (GBTC) has experienced notable outflows despite the potential growth. GBTC had a consistent decrease in withdrawals for over a month. Sonnenshein noted that GBTC was established earlier than most funds and began with $30 billion in assets, unlike the Newborn Nine which had no previous investors. He mentioned that the company expected the withdrawals as investors had held onto the shares for a prolonged period. This marks a new phase of acceptance. Sonnenshein mentioned that the industry is seeing a surge in adoption due to the release of these ETFs, indicating that an influx of funds into Bitcoin is imminent, potentially driving it to new record levels. He highlighted the $40 trillion of advised wealth that has been previously excluded from Bitcoin but now has an avenue to invest in the leading cryptocurrency. At the same time, traditional financial institutions such as Merrill Lynch and Wells Fargo are beginning to yield to client demands and providing access to these ETFs. Moreover, the upcoming halving event will decrease Bitcoin’s supply by half in under two months. Sonnenshein thinks that the upcoming halving will attract more investors to the industry and encourage adoption. He also stated in a different interview that the approval of spot Ethereum ETFs will happen, it’s just a matter of time.