21Shares President: Expects up to three to five issuers to win in Bitcoin spot ETF competition

Ophelia Snyder, president of 21Shares, said that Bitcoin (spot) ETFs have been hugely successful so far this year, but there is a huge gap between large issuers and others, which may mean a smaller market next year. "I think there will be, at most, three to five winners in this market." Snyder said that it will be a challenge for smaller ETF issuers to compete with the largest peers, especially those with more than $1 billion in assets, and the market will eventually be provided with higher trading volumes and more liquidity. Attracted by product publishers, this will squeeze the living space of small publishers who cannot compete with them. Snyder pointed out: "If you can't reach $1 billion in assets very quickly, you can't ultimately survive. The industry will have less (survival) space next year, which is inevitable." (Decrypt)