Markets
President of $4,250,000,000 Investment Firm Says Crypto Markets Still Have “Long Way to Go” – Here’s Why
The chairman of a multi-billion 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 a global market capitalization of $2.6 trillion.
“[Our] the short term perspective is that we’re still very early, which I think people are forgetting right now [because] they see the massive influx of assets into American products, some of the most successful ETF (exchange-traded fund) launches of all time…
It’s still very early. Most establishments [are] still not in space. Most intermediaries [are] I’m still not investing in the space. That’s still a lot of money for early adopters, meaning the market still has a way to go. And we’re still in the early innings from our perspective.
21Shares, along with other financial giants, have made bids to create a Bitcoin spot market (BTC) 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 is waiting for the regulator’s decision on Ethereum-based ETFs (ETH), the second digital asset in terms of market capitalization, after amended its application. According to Snyder, ETH ETFs will likely be approved, but will be less successful than the BTC ETF.
“Do I think ETH will be less successful than [BTC]? Yes. But I would also say that any equity ETFs that launch in the next 18 to 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 they have been educating investors for a long time.
Aether is both more complicated to explain, more complicated to understand and also less effort has been put into it over the last 5-10 years.
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