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Speaking to CNBC, Grayscale CEO Michael Sonnenshein says that the approval of a Spot Bitcoin ETF would unlock about $30 trillion worth of advised wealth for Bitcoin. Indeed, speaking on the Squawk Box program, Sonnenshein noted that approval will allow investment from individuals who have been “locked out” of a chance to have Bitcoin exposure.

Sonnenheim specifically noted that the advised market would have seen a massive influence on Bitcoin investment. Unfortunately, the Grayscale CEO echoes similar statements shared by those optimistic about the approval of a Spot Bitcoin ETF. Moreover, many expect a decision to be made by the US Securities and Exchange Commission (SEC) in early 2024.

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