Understand - Article 1
A unique and particularly captivating phenomenon in the history of finance
Understand - Article 2
The impact of the arrival of a Bitcoin ETF in the US
Understand - Article 3
Why offer exposure to digital assets?
Challenges - Article 4
Jérôme Castille (CoinShares): "Our aim is to remove counterparty risk from investors".
Challenges - Article 5
Jacques Lolieux (Aplo): "The compliance team is the biggest in the company".
Challenges - Article 6
Mapping the players in the sector
Challenges - Article 7
Products available in Europe
Challenges - Article 8
United States: All eyes on the arrival of Bitcoin ETFs
Perspectives - Article 9
Bitcoin in life insurance policies?
Perspectives - Article 10
CGP: Options for every profile
Perspectives - Article 11
Where to turn? 6 services for independent asset managers
Perspectives - Article 12
Safety: the key post-FTX requirement
Perspectives - Article 13
The full experience: the example of Montaigne Patrimoine
Perspectives - Article 14
Conclusion & thanks : Institutions need their standards to be met

Conclusion & thanks : Institutions need their standards to be met

Subscribe to our smart subscription to read this report in full

Conclusion & thanks : Institutions need their standards to be met

Tout ce qui compte en Web3. Chaque semaine.
25€/mois
12.5€/mois
Offre disponible jusqu’au 31.04.2024. 30 jours d’essai gratuit.
S'abonner

The central question regarding digital assets is no longer whether they will attract the interest of institutional investors, but rather how they will be integrated. 

For traditional financial players, several obstacles remain, mainly related to integrating this new asset class into their existing offerings. Direct ownership of digital assets represents a major challenge. However, the emergence of entities such as SG-Forge (a subsidiary of Société Générale), CACEIS (a subsidiary of Crédit Agricole) and, in the near future, BNP Paribas, suggests an acceleration in this area.

For institutional investors, the problem is above all cultural. The interviews conducted for this report clearly reveal that the major traditional investors (funds, insurers, banks, etc.) prefer to work with trusted entities that share their language and compliance standards.

It is clear that the PSAN registration issued by the AMF to more than 80 companies is not enough to convince the financial giants. Only PSAN authorisation, which will become compulsory from 2025, could satisfy them. And even then, it is likely that only those with such authorisation from the banking sector will be considered. After scandals like FTX, high finance's distrust of newcomers is understandable.

However, companies emerging from the crypto ecosystem are not without hope. The retail market is vast and is likely to continue to grow for many years to come. IFAs and family offices will play a key role in offering exposure to digital assets, and many specialist firms are already ready to meet their needs.

Between these two extremes, there are alternative products that combine digital asset ownership with a traditional financial structure, such as ETPs. These products are likely to stand out, particularly in the wake of the arrival of US behemoths such as BlackRock. While the industry is not perfect, it has never been so well structured to meet the demands of institutional investors.

Acknowledgements

Marina Beaudean - Head of 21Shares France

Thibaut Boutrou - COO, Meria

Victor Busson - CMO, Taurus

Jérôme Castille - Compliance Director, Coinshares France

Louis-Alexandre de Froissard - Founder, Montaigne Patrimoine

Arnaud Grünthaler - Partner, Fieldfisher

Enzo Hallot - Founder, Crypto Patrimoine

Frédéric Juret-Rafin - Founder, Alia Finance

François Laviale - Managing Partner, Alphacap Digital Assets

Mounir Laggoune - CEO, Finary

Marc Lecorché - Founder, Qwarks

Jacques Lolieux - Founder, Aplo

Nicolas Louvet - CEO, Coinhouse

Laurent Ovion - Innovation Director, DLPK Group

Benoît Pellevoizin - Director, CoinShares France

Julien Romon - Founder, Tilvest

Cyril Sabbagh - Managing Director, Melanion Capital

Imad Wardé - Founder, HedgeGuard

Oliver Yates - Founder, Aplo

This report was designed by The Big Whale's research department and under the direction of Grégory Raymond.

Graphic design: Céline Robin

Previous

Next