By: Gustian Farrow, Head of StoneX TV • Content Channels
Eric Rose, Head of Digital Asset Execution at StoneX, explains how regulation, ETFs, and treasury companies are transforming digital asset markets.
The United States has long lagged behind other regions in digital asset regulation. Europe, the Middle East, and Asia established clearer frameworks, leaving the US cautious. Rose noted that this has shifted as recent policy changes rolled back restrictions such as SAB 121 and reduced legal pressures on the sector. “The current administration has really taken the reins off of the digital asset ecosystem”.
A major turning point came with the launch of Bitcoin and Ethereum ETFs in 2024. These products allowed investors with brokerage accounts to gain exposure to digital assets without holding the underlying tokens. Rose highlighted how this created broader participation and sparked renewed interest in the sector.
Alongside ETFs, treasury companies dedicated to holding digital assets have emerged. MicroStrategy was the first high-profile example, and now more than 100 Bitcoin treasury companies exist. This trend has spread to Ethereum and Solana, giving equity investors another avenue to participate in the market. These structures rely on debt and equity issuance to accumulate and hold digital assets on their balance sheets.
The combined effect of regulatory easing, ETF availability, and treasury company expansion is reshaping digital asset markets. Rose emphasized that the investable universe is broadening, creating opportunities for traditional investors to access this growing asset class. “We have seen a groundswell of interest, both in the ability for investors to access the market and from the government to push forward”.
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Sign up for a free Market Intelligence trial today See our financial videos hub---- Written by Gus Farrow
---- Expert: Eric Rose, StoneX Head of Digital Asset Execution
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