Getting There First, Going Fast and Playing the Long Digital-Asset Game

There are no barriers to entry when it comes to launching an exchange-traded fund (ETF). The hard part, though, is building and growing a successful ETF. Peter Mintzberg, CEO of crypto asset manager Grayscale, is well acquainted with the challenges of the crypto market and how it figures—mightily—in the traditional world of asset management. His aggressive moves to position the firm early in digital assets is paying off: Grayscale manages a diverse, multi-billion dollar portfolio including Grayscale Bitcoin Trust ETF (GBTC), Ethereum trusts, and a list of 27 potential new digital assets for future products, including DeFi and AI tokens. And Grayscale is just getting started.

While TradFi and crypto leaders seek regulatory “clarity,” that alone isn’t enough, particularly for financial institutions. As tokenization, on-chain settlement, and programmable finance move from pilots to production, the crucial factor for TradFi leaders will be their execution capability: operating models, talent authority, cultural readiness, and strategic clarity that allow them to establish durable, profitable positions in the native conditions of on-chain finance over the next three years.

The panel discussion will focus on what must change inside traditional financial firms to compete with native on-chain players and fast-moving incumbents, including:

• What changes once regulatory “permission” is no longer the bottleneck?
• Which firms are still hiding behind regulatory uncertainty as an excuse for inaction?
• How much regulatory clarity is enough to move real capital on-chain?
• Why quarterly roadmaps fail in 24/7, real-time markets.
• What has to break (processes, controls, approvals) to ship on-chain products.
• Can TradFi genuinely iterate in public — and should it?
• Why crypto expertise without decision-making power doesn’t execute.
• Where TradFi org charts quietly kill on-chain momentum.
• What governance models actually work for on-chain business lines.
• Why “digital asset divisions” often become organizational dead ends.
• How treasury, risk, compliance, and ops must change for atomic settlement.
• When permissioned chains help — and when they slow you down.
• How on-chain transparency changes risk management and reputation.
• Why do you exist on-chain? Issuer, liquidity provider, infrastructure, risk wrapper—pick one.
• Why “tokenization strategy” is not a business model.
• How native players are defining the rules faster than incumbents.
• What will be considered a failed digital asset strategy in hindsight?

Tokenization is redefining how financial assets are issued, traded, and managed — unlocking new levels of liquidity, transparency, and efficiency. As institutional adoption accelerates, the lines between traditional finance and blockchain-native systems are blurring. This panel brings together leaders from banking, asset management, and digital infrastructure to explore how tokenized securities are reshaping capital markets. We’ll discuss how traditional institutions can participate safely and profitably in on-chain finance, from regulatory frameworks and custody solutions to product design and investor access. The panel will offer a practical understanding of where tokenization fits within institutional strategy, what pilots are showing real results, and what’s next for asset managers navigating the digital transformation of capital markets. Key topics include:

• The evolution of tokenized funds, bonds, and alternative assets.
• Legal and regulatory frameworks for tokenized securities.
• Integration of blockchain infrastructure into existing asset management workflows.
• Opportunities for yield, liquidity, and operational efficiency.
• Collaboration models between asset managers, custodians, and DeFi platforms.

Rewiring Finance: Modernizing Market Infrastructure for an On-Chain Future

Global financial markets are undergoing a foundational transformation. Legacy systems built decades ago are being challenged by new technologies—from distributed ledgers and real-time settlement rails to AI-powered risk management and tokenized assets. Market participants, regulators, and infrastructure providers now face a shared imperative: how to modernize safely, efficiently, and collaboratively.

This one-on-one interview will explore how market infrastructure is evolving, and what modernization really means for liquidity, efficiency, and resiliency, including:

• Integrating modern infrastructure—DLT, cloud, and digital assets—into existing market systems.
• Balancing innovation with regulatory and operational risk management.
• The future of settlement, clearing, and custody in a tokenized economy.
• Public-private collaboration: how institutions and regulators can shape the new financial rails.
• The business case for modernization: efficiency gains, transparency, and access.

Banking on the Institutional Digital-Asset Trading Build

The former “build it” guy at J.P. Morgan and Barclays, who spent years building and selling products in options and credit derivatives, commodities, and sales and trading, is now building a platform for institutional trading of digital assets, drawing on all the lessons he learned in traditional markets—but created to power the digital-asset economy.