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Murtuza Merchant

Binance CEO’s Exit Paves Way For Traditional Giants To Dominate Bitcoin ETF Market

Binance Changpeng Zhao Bitcoin ETF BlackRock Fidelity Invesco Crypto Justice Department

With Binance (CRYPTO: BNB) CEO Changpeng Zhao's resignation Tuesday on the heels of a U.S. Justice Department investigation, the field is clear for large institutions to take over the Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH) ETFs market, observers say. PHOTO BY KANCHANARA/UNSPLASH

With Binance (CRYPTO: BNB) CEO Changpeng Zhao’s resignation Tuesday on the heels of a U.S. Justice Department investigation, the field is clear for large institutions to take over the Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH) ETFs market, observers say.

Investor Mike Alfred suggests that Zhao’s exit from Binance paves the way for traditional financial giants like BlackRock (NYSE: BLK), Fidelity, and Invesco to dominate the space — especially if the U.S. Securities and Exchange Commission approves a spot Bitcoin ETF.

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