A new report from Cboe argues that crypto markets are entering a new phase in which derivatives, tokenisation and stablecoins are becoming the foundations of institutional market infrastructure.
The launch of spot bitcoin and ether exchange-traded funds (ETFs) has fundamentally changed the role of digital assets within institutional portfolios, according to a new research paper from Cboe . In Beyond ETFs: How Derivatives & Tokenization Are Reshaping Crypto , Wei Liao, director of derivatives market intelligence at Cboe , argues that the industry's next phase of growth will be driven less by investment access and more by the infrastructure supporting digit