Bitcoin ETFs will be 'winner take most' market, says Bitwise exec

Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.The list of contenders vying for approval from the US Securities and Exchange Commission to launch a spot bitcoin ETF continues to grow, but only a select few of those products will wind up being successful, according to Matthew Hougan of Bitwise.

Typically, the firm that is first to market snags the most assets under management. The largest gold, crude, and crypto equity ETFs were first movers in their respective sectors, with SDPR's Gold Trust currently boasting nearly double the amount of assets of its closest competitor."Imagine ETF A launches on Monday and ETF B launches on Tuesday. On Monday, ETF A will attract 100% of the assets and 100% of the trading volume.

"So with a bitcoin ETFs, I believe iShares could actually come in late and still take meaningful market share," Geraci noted."Much, much tough for smaller issuers to come in late." Cathie Wood's ARK, which filed for a spot bitcoin ETF with European asset manager 21Shares, said last week that it was first in line to get approval from regulators, as noted by

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US SEC deems spot Bitcoin ETFs filings as inadequate: ReportThe securities regulator told the Nasdaq and the Cboe that their filings for a sport Bitcoin ETF are not 'sufficiently clear and comprehensive.' According to the Wall Street Journal, the securities regulator told the NASDAQ and the Chicago Board Options Exchange (Cboe) that their filings are not 'sufficiently clear and comprehensive.' These exchanges represent asset managers in the filing of the financial product. Spot Bitcoin ETFs have been denied since 2017 by the SEC. In Canada, however, the financial product is already available. Three significant funds — Purpose Bitcoin, 3iQ CoinShares and CI Galaxy Bitcoin — are all directly invested in spot Bitcoin.
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Spot bitcoin ETFs won't be derailed as SEC reportedly details concerns, crypto insiders sayIndustry insiders say exchanges and asset managers can overcome another apparent hurdle to a spot bitcoin ETF.
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