The president of a massive investment firm believes that the digital assets market still has a long way to go. Ophelia Snyder, co-founder and president of 21Shares, shared in a recent interview with Bloomberg that despite the crypto markets having a total market cap of $2.6 trillion, they are still in their early stages.

Snyder emphasized that the current influx of assets into US products and successful ETF launches are just the beginning. She pointed out that most institutions and intermediaries have yet to enter the space, indicating that there is still a lot of early adopter money in the market. This suggests that there is significant room for growth, with the market still in its initial phases.

21Shares recently had their proposals for spot market Bitcoin (BTC) ETFs approved by the U.S. Securities and Exchange Commission (SEC), resulting in billions of dollars flowing into the crypto market. The firm is now awaiting the SEC’s decision on ETFs based on Ethereum (ETH) after modifying their application. Snyder believes that ETH ETFs will likely be approved, but may not be as successful as BTC’s ETF.

While Snyder sees Ethereum as more complicated to explain and understand compared to Bitcoin, she also notes that there has been less investor education around ETH. Despite this, she remains optimistic about the potential for growth in the digital assets market.

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