July 3 (Cointime) -  Matthew Hougan of Bitwise warns that only a select few of the growing list of contenders vying for approval from the US SEC to launch a spot bitcoin ETF will wind up being successful. "ETFs are generally a 'winner takes most' market," Hougan told The Block. The firm that is first to market typically snags the most assets under management. Thus far, financial market titans Fidelity and BlackRock have filed alongside smaller brands like Valkyrie Investments, WisdomTree, and Invesco.