🌋 The True Effect of Bitcoin ETFs Remains Unclear
postedΒ 11 Jan 2024
Ophelia Snyder, co-founder of the cryptocurrency ETP provider 21Shares, believes that it will take several months to fully understand the impact of American Bitcoin ETFs on the market. This delay is attributed to the extensive approval processes required for these products to be available for purchase by different financial institutions, often taking up to 90 days.
"Just because a product's available to trade on does not actually mean that every adviser in America can buy it," Ophelia highlighted.
Moreover, she notes that despite the approval of Bitcoin ETFs, there remains uncertainty about cryptocurrencies from the U.S. Securities and Exchange Commission (SEC). This significantly affects major investors, so the crypto community should not have overly optimistic expectations regarding rapid investments in the leading cryptocurrency.
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