21Shares President: Bitcoin ETF market will consolidate into three to five winners

Ophelia Snyder, President of 21Shares, stated that Bitcoin ETFs have been hugely successful so far this year, but the significant gap between large issuers and other issuers may mean that the field will narrow next year. She said, "I think in the most crowded market, you will see three to five winners." Snyder said that competing with the largest peers will be a challenge for smaller ETFs, especially those with assets over $1 billion. Ultimately, the market will be attracted to participants offering higher trading volumes and more liquidity, squeezing the survival space of small issuers who cannot compete with them.