Bitcoin Blowback: Wisdomtree, Grayscale Respond To Landmark Court Ruling On Spot ETF

In the wake of Grayscale's GBTC landmark legal victory in its journey to launch the first U.S. ETF investing directly in Bitcoin BTC/USD, industry leaders emphasized the paramount importance of investor protection.

Grayscale CEO Michael Sonnenshein and Wisdomtree Inc. WT Chief Legal Officer Ryan Louvar noted the significance of safeguarding investors while navigating the evolving digital assets landscape.

In light of these developments, the upcoming Benzinga Future of Digital Assets conference promises to offer deeper insights into the evolving landscape of digital assets. The conference, renowned for its comprehensive discussions on the digital assets industry, will address the Grayscale ruling and its broader implications for the market.

Sonnenshein commented on the ruling's implications during an interview with Bloomberg Television.

"The final operational procedures will be determined by the court's ultimate mandate," he said.

Sonnenshein further clarified the company remained uncertain about the final opinion until the conclusion of the 45-day period post-ruling.

Also Read: SEC's Bitcoin ETF Denial Rejected By Court: Is This The Beginning Of The End For Regulatory Hurdles?

Sonnenshein expressed concerns over the SEC's previous grounds for denying such products, stating, "There really shouldn’t be any further grounds like the SEC has been relying on to continue denying these types of products from coming to market."

He added Grayscale had not received any communication from the SEC since the judgment.

Sonnenshein remained optimistic about the future of digital assets, asserting, "Crypto as an asset class is most certainly here to stay."

Wisdom Tree's Louvar echoed a similar sentiment of prioritizing investor protection.

"While we are closely monitoring the unfolding events, our primary commitment remains towards investor protection and responsible innovation. We are deeply engaged in meaningful and collaborative dialogues with regulators," he stated.

Read Next: SEC's Grayscale Defeat Increases Odds Of Spot Bitcoin ETF Approval To 75%: Experts

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