The list of contenders vying for approval from the US Securities and Exchange Commission to launch a spot bitcoin ETF continues to grow, but only a select few of those products will wind up being successful, according to Matthew Hougan of Bitwise.
"ETFs are generally a 'winner take most' market," Hougan, whose firm refiled its application for a spot bitcoin ETF on June 16, told The Block.
Typically, the firm that is first to market snags the most assets under management. The largest gold, crude, and crypto equity ETFs were first movers in their respective sectors, with SDPR's Gold Trust currently boasting nearly double the amount of assets of its closest competitor.
Hougan explained that second-to-market ETFs have a more difficult time competing. Here's Hougan
