Markets
President of a $4,250,000,000 investment firm claims crypto markets still have “a good way of working” – here’s why
The president of a multibillion-dollar investment firm says the digital asset market still has a long way to go.
In a new interview with Bloomberg, 21Shares co-founder and president Ophelia Snyder says crypto markets are still in their infancy despite having an overall market cap of $2.6 trillion.
“[Our] The short-term perspective is that we’re still very far along, which is something I think people are forgetting right now [because] they are seeing the huge assets coming into US products, some of the most successful ETF (exchange-traded fund) launches of all time…
It’s still very early. Most institutions [are] It’s not in space yet. Most intermediaries [are] not yet investing in space. That still represents a lot of money for early adopters, which means the market still has a long way to go. And we’re still in the early innings from our perspective.”
21Shares, along with other financial giants, made their proposals to create Bitcoin in the spot market (Bitcoin) ETFs approved by the US Securities and Exchange Commission (SEC) in January, bringing billions of dollars in inflows to the crypto king.
Now, the company awaits the regulatory body’s decision on Ethereum-based ETFs (ETH), the second largest digital asset by market value, after modified its application. According to Snyder, ETH ETFs will likely be approved but will be less successful compared to BTC ETFs.
“I think ETH will be less successful than [BTC]? Yes. But I would also say that all the stock ETFs that will be launched in the next 18-24 months will also be less successful…
Ether is a little more complicated. I think one of the other things that’s different about Ethereum is that there’s been a lot less investor education. People have been talking about Bitcoin for a long time and have been doing investor education for a long time.
Aether is more complicated to explain, more complicated to understand, and also less effort has been made to do so in the last 5 to 10 years.”
Don’t miss a beat – Subscribe to receive email alerts directly to your inbox
To check Price Action
Follow us on X, Facebook It is Telegram
To surf Hodl’s daily mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: DALLE3