<img src=”https://storage.googleapis.com/prod-zenger-upload/image/20231121/feat_98cff801-a530-4965-9c26-f3619222f853.jpg” alt=”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.

Other crypto professionals provided their take.

Produced in association with Benzinga