Recent developments around a spot Bitcoin exchange-traded fund have put a spotlight on potential price movements.
But what effect will a spot ETF in the United States have on spot Bitcoin markets in general? Will it open up new opportunities for actively trading banks and securities firms?
What effect will it have on overall spot liquidity?
Most importantly – what does it mean for the next evolution of the market?
During WEF week 2024 in Davos, RULEMATCH hosted a special panel discussion on these topics – and more – with participation from:
- David Riegelnig (CEO, RULEMATCH)
- 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 of Investment Solutions, AMINA Bank)
Beyond the topic of price appreciation and the often-repeated refrain of “institutional adoption”, the panel discussion, moderated by RULEMATCH Director of Marketing and Communications Ian Simpson, focused on the mechanics of the approved ETFs, the flow of Bitcoin trading involved in creation and redemption and the role of various parts of the ETF value chain – issuer, market maker, trading venue and banks.
Other key topics of the discussion 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
