Grayscale CEO: The SEC should approve multiple Bitcoin spot ETFs at the same time, otherwise the SEC will be in a very bad situation

According to Bloomberg, Grayscale CEO Michael Sonnenshein said in an interview that the U.S. Securities and Exchange Commission (SEC) should approve multiple Bitcoin spot ETFs at the same time. If the SEC does not allow Grayscale Bitcoin Trust (GBTC) to convert into a Bitcoin spot ETF while approving other applicants' Bitcoin spot ETF listings, GBTC investors will be at a severe disadvantage. If the SEC puts hundreds of thousands of GBTC investors at a disadvantage, they will be in a very bad situation. He stated: "I believe that the SEC should and indeed wants to create a fair competitive environment. We have always advocated publicly that as soon as the SEC is ready to approve spot products for listing, it should be done immediately. Issuers who are operationally ready to launch products should list their spot ETFs immediately." He added that Grayscale is already prepared to list GBTC. He reiterated his promise that once GBTC begins trading as an ETF, he will lower its fees. The trust's current fee rate is 2%.