Author: Mike Dalton, Cryptoslate; Compiled by: Deng Tong, Golden Finance
Ophelia Snyder, co-founder and president of 21Shares, called the spot Bitcoin ETF a success in an interview with Bloomberg on January 30.
21Shares has launched a spot Bitcoin ETF in conjunction with Ark Invest, one of several Bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) on January 10.
Snyder commented on the approvals, stating:
“The bottom line is that these flows are really promising. This is one of the best ETF launches ever. In the past few weeks alone, we have over $600 million in assets across our products."
Snyder added that this trend is "very exciting" because it stems from diverse ation basis. She suggested that new products bring advisors into the crypto community, a trend that will shape the future ecosystem.
Bloomberg also noted that all spot Bitcoin ETFs saw $1 billion in inflows. Asked whether that number was relatively low considering the hype leading up to approval, Snyder responded that it was "too early to do so." It will take some time for ETFs to be added to more platforms and easily available, she said, noting that the entire process will take about three months.
Snyder discusses Ethereum ETF chances of approval
Snyder also has pending Ethereum ETF spot application commented. Regarding the possibility of these funds being approved in the coming months, she said:
“I think it’s really hard to say at this stage. It will depend on how the arguments in favor of a spot Bitcoin product actually translate to ether and how mature that market is."
Synder added that 21Shares is optimistic about the spot Ethereum ETF and said her company looks forward to working with regulators.
Other agencies have similar disagreements over approval opportunities. Polymarket Forecast Market puts the chance of approval of the spot Ethereum ETF on May 31 at 47%. Bloomberg ETF analyst James Seyffart predicts a 60% chance of approval in May, while JPMorgan members predict a 50% chance of approval in May.
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