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

Ophelia Snyder, President of 21Shares, stated that Bitcoin ETFs have achieved great success so far this year, but the huge gap between large issuers and other issuers may mean that the field will narrow next year. She said: "I think in most cases in this market, you will see three to five winners." Snyder indicated that for smaller ETFs, competing with their largest peers will be a challenge, especially those with assets exceeding $1 billion. The market will eventually be attracted by participants offering higher trading volumes and more liquidity, which will squeeze out small-scale issuers who cannot compete with them.