According to BlockBeats news on January 11, Ophelia Snyder, co-founder of cryptocurrency custody company 21Shares, shared her insights on the impact of spot Bitcoin ETFs on the market following their recent approval in the United States. She emphasized that it would likely take several months to accurately gauge their effects on the market due to necessary processes that wealth management firms must follow prior to adding ETFs to their approved allocation lists.
Furthermore, Snyder clarifies that just because a Bitcoin spot ETF is available for trading, it doesn't automatically imply that every financial advisor in the U.S. can purchase it. Compliance is a significant aspect of this process, necessitating advisors to conform to regulations to add the ticker, which aren't added by default. Typically, this compliance process might take up to 90 days.
