Analysis

Analysis and editorial on tokenised ETF infrastructure, regulatory frameworks, and competitive dynamics between traditional and blockchain-native fund architectures.

The exchange-traded fund industry’s migration to blockchain rails represents the most significant structural transformation in fund management since the introduction of the ETF wrapper itself. Our analysis tracks this transformation as it unfolds — from BlackRock’s BUIDL to DeFi-native index products, from SEC deliberations to MiCA implementation.

Coverage spans three domains. First, product analysis: examining tokenised ETF structures, NAV methodologies, redemption mechanics, custody arrangements, and the economic trade-offs between on-chain and traditional fund wrappers. Second, regulatory mapping: tracking how the SEC, FCA, ESMA, FINMA, and other regulators approach tokenised fund products. Third, competitive intelligence: analysing the strategic positions of traditional issuers, DeFi-native platforms, and infrastructure providers competing for market share.