21Shares & Ark Invest Spot Bitcoin ETF Rakes in Whopping $600M
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In an exclusive interview with Bloomberg on January 30, Ophelia Snyder, the co-founder and president of 21Shares, shared her excitement about the success of spot Bitcoin ETFs. The collaboration between 21Shares and Ark Invest resulted in the approval of a groundbreaking spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) on January 10.
Challenges and celebrations – we’ve covered it all here. Dive in.
Breaking Records!
Snyder praised the recent approvals, highlighting a massive influx of funds into these ETFs. With an impressive $600 million pouring into their product in recent weeks, this accomplishment stands out as one of the most successful ETF launches in history.
She finds this trend particularly exciting as it draws from a diverse base, introducing advisors to the crypto community and shaping the future of the ecosystem.
Also Read: Not All Approved Spot Bitcoin ETFs Will Survive : Says Grayscale CEO
Looking Beyond the Hype
Bloomberg reported a total inflow exceeding $1 billion across all spot Bitcoin ETFs. To address concerns about the modesty of this figure compared to pre-approval hype, Snyder downplayed apprehensions. She highlighted ongoing efforts to integrate ETFs into more platforms, making them widely accessible to advisors.
This transformative process is expected to unfold over the next three months.
…But It’s Not All Easygoing!
In a recent interview, Jan van Eck, the CEO of global investment management firm VanEck, discussed obstacles hindering the tokenization of real-world assets (RWAs). Van Eck highlighted a crucial challenge: ensuring adequate liquidity for tokenized assets. The pressing question emerges – who will provide the necessary liquidity for these assets to flourish in the market?
Expanding on the hurdles, Van Eck underscored the immediate need for advanced market mechanisms. He passionately urged the development of a regulatory environment that unequivocally supports the tokenization of RWAs. Clear rules and solid backing for these groundbreaking ideas are crucial.
Van Eck noted that the existing regulatory environment in the U.S. presents obstacles for such ventures and is unlikely to be the primary choice for tokenized markets until significant changes occur. Despite a positive shift in regulatory attitudes, the absence of clear industry regulations is expected to impede progress.
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