Grayscale Investments CEO Michael Sonnenshein in his recent CNBC appearance voiced his opinion about the potential impact of a spot Bitcoin ETF on the crypto market.

What Happened: Sonnenshein highlighted that a spot Bitcoin ETF could “unlock” around “$30 trillion worth of advised wealth.” He added that the ETF approval would be the best way to tap into the vast resources held within advised assets in the U.S.

Sonnenshein added, “We’re really taking about the advised market here in the U.S. Which is today, about $30 trillion worth of advised wealth that we hope the approval of spot Bitcoin ETFs, the up-listing of GBTC, will allow for that opportunity and for those investors to partake…

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