Grayscale CEO: Short BTC ETF launch is good for crypto

The launch of ProShares’ short-selling Bitcoin exchange-traded fund (ETF) could be a positive sign for the industry, according to Michael Sonnenshein, CEO of crypto asset manager Grayscale Investments. Sonnenshein noted that he believes the U.S. Securities and Exchange Commission (SEC) is gradually becoming more comfortable with the leading cryptocurrency with the approval of new bitcoin-related investment products. He noted that the SEC rejected a bitcoin spot ETF due to concerns about the maturity of the market and the potential for fraud and manipulation. (cryptopotato)