Why is the crypto exchange-traded products market becoming more competitive?

In recent years, the crypto exchange-traded products market has witnessed a surge in competition, leaving many industry observers wondering: why is this market becoming more competitive? Could it be the increasing demand for digital assets as a viable investment option? Or perhaps the introduction of new and innovative products that cater to the diverse needs of investors? Additionally, the rise of decentralized finance and the emergence of new players in the crypto exchange space may also be factors that contribute to this heightened competition. Furthermore, regulatory clarity and the growing adoption of cryptocurrencies globally are likely to further intensify the rivalry in this dynamic market. Ultimately, the question remains: how will this increased competition shape the future of the crypto exchange-traded products market?