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Grayscale CEO Welcomes BlackRock and Fidelity’s Entry Into Crypto Space

Grayscale Investments CEO Michael Sonnenshein expressed his approval of BlackRock and Fidelity's efforts to enter the cryptocurrency space. He described BlackRock's filing to launch a spot bitcoin ETF in June as a "moment of validation" and believes that it adds credibility to the asset class.

Other major asset managers, including Fidelity, Invesco, and WisdomTree, have followed suit. Grayscale, which currently manages $19.1 billion in assets through its Grayscale Bitcoin Trust, has filed to convert its trust into an ETF and is hoping to unlock billions of dollars in investor capital if successful.

Bitcoin Bitcoin $97,938.22
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BlackRock Fidelity Cryptocurrency
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