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28th November 2023 | Whitepapers

The Future of Digital Assets Market Structure in Europe

Acuiti today publishes The Future of Digital Assets Market Structure in Europe report, in association with D2X.

This paper explores how institutional firms operational in crypto derivatives markets viewed innovations in market structure and what is the optimal, post regulation market structure for institutional crypto derivatives markets.

For this report, Acuiti surveyed or interviewed senior executives at 64 firms in the digital assets market. 55% of those firms were crypto native institutions, launched to trade crypto, while the remainder were traditional financial institutions that had adopted trading of crypto derivatives. Respondents were predominantly from hedge funds, asset managers and proprietary trading firms.

The key findings included:

  • 86% of respondents think that the biggest impact of regulation will be significantly more retail flow into crypto
  • Institutional firms trading crypto prefer a model with low initial margin requirements and direct access model
  • The lack of weekend trading is predicted to be a major factor that will hold back the development of institutional flow on TradFi exchanges
  • Demand for cross-asset margining is very high among market participants
  • Institutional adoption is likely to be led by proprietary trading firms with hedge funds and asset managers less likely to be considering trading on onshore regulated venues