Sonnenshein thinks U.S. regulators aren't ready to approve a bitcoin ETF yet.
"We are seeing a new group of investors who are Ethereum-first and in some cases Ethereum-only," Michael Sonnenshein told Bloomberg.
Grayscale Investments has filed to register its bitcoin trust as an SEC reporting company, potentially the first crypto vehicle to attain such status.
The digital currency asset manager will offer its Digital Large Cap Fund on over-the-counter markets.