This week’s features from ETF Express see growth in the crypto ETP business in Europe with an interview with Laurent Kssis who classes as a crypto industry veteran, having worked for both 21Shares and CoinShares. Kssis has joined Hashdex, a Brazilian asset manager set on shaking up the offerings in the crypto space in Europe.
Kssis says, of crypto investment funds: “Today, I don’t believe the European market is served well and we see this as both an opportunity and challenge. Given the evolution of what institutional investors are demanding, we’re fully aligned on how to structure products and help investors capture broad exposure to the market.”
We also have that crypto report from Bloomberg Intelligence that predicts that assets under management in crypto ETPs are likely to grow beyond USD120 billion by 2028, fuelled by increasing institutional demand and changes in US policy. According to BI’s report, institutions taking crypto positions rose to 52 per cent last year, up from 33 per cent in 2019, bringing further liquidity to the sector.
Julie Chariell, Senior Fintech Industry Analyst at Bloomberg Intelligence says: “Bitcoin turns 13 years old in 2022, barrelling into its teenage years marked by greater independence in the form of decentralisation, some rebelliousness, as seen in its volatility, and formation of identity as in its store of value or medium of exchange. With some discipline, through regulation, crypto has the potential to achieve acceptance by peers in the shape of mainstream adoption.”
AXS Investments in the US is another growing ETF firm and Bailey McCann spoke with Greg Bassuk from the firm this week about their expansion plans and the recent purchase of Tuttle Capital’s ETFs, including SARK, the ETF that shorts ARK Invest’s innovation ETF.
Next week is a public holiday in Europe for Easter week, so your next newsletter will be 22nd April. Covid-testing permitting, I will be attending the Exchange conference in Miami next week, moderating a panel with Ryan McCormack, Factor & Core Equity Strategist, Invesco on QQQ – if you are at the conference, do come and find us at 12.00 on the 12th April.
Finally, we opened voting in ETF Express’s sister title Wealth Adviser’s awards. If you would like to nominate and vote for your favourite firms in the UK’s wealth sector, please follow this link.
Beverly Chandler, managing editor, ETF Express
Companies in this issue
State Street Global Advisors