Supercharging spot?

What does a Bitcoin ETF mean for global crypto spot markets?

What does the recent decision to allow Bitcoin spot ETFs mean for the overall development of the global crypto market?

This was the topic of a special panel hosted by RULEMATCH – along with 21Shares, Flow Traders, Hidden Road, BBVA Switzerland, Bank Frick and AMINA Bank.

Key points included:

– Cash-settled vs in-kind ETFs and their implications

– Continued fragmentation in the market and how to address it

– Capital efficiency for cash-settled BTC ETFs

– A possible Bitcoin and ETF lending market and related investment strategies

– Lower fees and implications for spot trading

Hidden Road is helping clients access the fragmented spot market and find new opportunities – which will definitely develop in the coming months and years.

Michael Higgins

Global Head of Business Development at Hidden Road

Cash-settled Bitcoin ETFs don’t pose a problem for us given our long experience in the space – but there are certain potential inefficiencies that we will monitor.

Isabell Moessler

Global Head of Distribution at 21Shares

At BBVA Switzerland we have been active in the market with custody for quite some time, but now we look at new possibilities that open.

Philippe Meyer

Head of Digital and Blockchain Solutions at BBVA Switzerland


David Riegelnig


Isabell Moessler

Global Head of Distribution, 21Shares

Michael Lie

Head of Digital Assets, Flow Traders

Michael Higgins

Global Head of Business Development, Hidden Road

Philippe Meyer

Head of Digital and Blockchain Solutions, BBVA Switzerland

Jonas Gantenbein

Head of Digital Assets, Bank Frick

Gregory Mall

Head Investment Solutions, AMINA Bank

Ian Simpson

MODERATOR – Director of Marketing and Communications, RULEMATCH