Michael Sonnenshein, CEO of Grayscale Investments, gives an overview of his firm’s case against the SEC, which has denied requests to turn Grayscale’s bitcoin trust into an exchange-traded fund (ETF). With oral arguments kicking off March 7, Sonnenshein lays out what a worst-case “tender offer” would entail and whether DCG CEO Barry Silbert has any say over GBTC’s fate.
🔹 why Grayscale charges higher fees than, say, the average ETF 🔹 what Grayscale will do if it loses its case against the SEC 🔹 why Grayscale has not filed for Regulation M relief 🔹 Michael's comments on Gemini liquidating 31 million shares of GBTC 🔹 the reason behind the October 2022 timing of Grayscale changing GBTC's “authorized participant” 🔹 the relationship between Grayscale and DCG, and Barry Silbert's involvement in Grayscale's operations 🔹 why the trust agreement of GBTC was changed
