|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||18.04 - 18.37|
|52-week range||7.46 - 21.88|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Crypto executives met with lawmakers on Capitol Hill on Thursday in a bid to create new rules of the road for crypto. Grayscale CEO Michael Sonnenshein was in those meetings and spoke with Yahoo Finance's Jennifer Schonberger about how they went. Sonnenshein says he was "encouraged" by the meetings, adding that there's a "ton of optimism." There have been some efforts to pass crypto legislation, including a bill from Senators Lummis and and Gillibrand, of which Sonnenshein says "having this type of momentum around these bills and the frameworks that they provide, these are the types of engagement that we're seeing from members... we've never seen before." On the ongoing legal fight over Grayscale's bid to convert its Grayscale Bitcoin Trust (GBTC) to an ETF, Sonnenshein says that right now, the company has to be patient, given that the Securities and Exchange Commission has 45 days to review and appeal the judge's ruling.
Securities and Exchange Commission Chair Gary Gensler was questioned by the Senate Banking Committee about the oversight of his department. Gensler's regulatory approach drew criticism from Republican Senator Tim Scott, who accused him of hindering pro-growth initiatives and potentially increasing costs for public companies with climate disclosure rules. Scott emphasized the need for a slower regulatory pace stating, "the breakneck pace you are pumping out regulations should not be applauded." Gensler was also asked about a judge's ruling in favor of Grayscale in its bid to convert its Grayscale Bitcoin Trust (GBTC) into an ETF. Gensler said his team is still reviewing the decision. Yahoo Finance's Jennifer Schonberger delves into the details of the hearing.
Bitcoin prices (BTC-USD) are down more than 10% over the last month. Yahoo Finance Senior Reporter David Hollerith notes that September tends to be a heavier trading month for bitcoin than August. He also notes that the SEC's response to a judge's ruling on converting the Grayscale Bitcoin Trust (GBTC) to an ETF likely won't happen until October.