The start of 2026 has been marked by heightened geopolitical risks, evolving monetary policy expectations, and increasing divergence across markets. From AI-related capex and metals to rates, FX and digital assets, opportunities are becoming more selective, with dispersion across regions and asset classes continuing to widen. 

In this environment, a more targeted and flexible approach to portfolio construction is increasingly relevant. 

Key Themes for 2026

The booklet explores a range of themes shaping markets this year, including: 

• AI and capital expenditure, as investment continues across semiconductors, data centres and energy infrastructure 

• Metals and commodities, where divergence across sectors is creating both momentum and tactical opportunities 

• Rates and policy uncertainty, as markets assess the path of central banks through the later stages of the cycle 

• Infrastructure and energy transition, supported by fiscal spending and long-term structural demand 

• Europe and credit dynamics, with recovery expected to be gradual and uneven 

• Digital assets and emerging markets, reflecting increasing differentiation across regions and asset classes 

Indicative Investment Approaches

Alongside these themes, the booklet includes a range of indicative structured ideas, illustrating how different market views can be expressed across equities, rates, foreign exchange, commodities, credit and digital assets. 

These examples are designed to highlight a variety of payoff profiles and approaches, rather than represent specific recommendations. 

Supporting Portfolio Discussions

The 2026 Investment Opportunities booklet is intended to support discussions around portfolio positioning in a more complex and differentiated market environment, where both bullish and bearish scenarios may coexist across asset classes. 

Disclaimer 

This content has been prepared by Marex for information purposes only.

It may not be copied, distributed, published or reproduced in whole or in part without the prior written consent of Marex. Marex does not give any representation or warranty, whether express or implied, as to the accuracy, completeness, currency or fitness for any purpose of use of any information in this document.

Information in this document should not be considered as advice, or as a recommendation or solicitation to purchase or otherwise deal in securities, investments or any other products. It has been prepared for institutional clients, is not directed at retail customers and does not take into account particular investment objectives, risk appetites, financial situations or needs. Recipients of the document should make their own trading or investment decisions based upon their own financial objectives and financial resources.

This document may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Marex’s businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward-looking statements which may be subject to change without notice. While reasonable care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside Marex’s control. Past performance is not a reliable indication of future performance.

The information contained herein is current as at the date of publication. No part of this document may be redistributed, copied or reproduced without prior written consent of Marex. While reasonable care has been taken to ensure that the facts stated are fair, clear and not misleading, Marex does not warrant or represent (expressly or impliedly) their accuracy or completeness. Any opinions expressed may be subject to change without notice. Marex accepts no liability whatsoever for any direct, indirect or consequential loss or damage arising out of the use of all or any of the data or information in this document.

This document was approved by Marex Financial (“MF”). MF is incorporated under the laws of England and Wales (company no. 5613061, LEI no. 5493003EETVWYSIJ5A20 and VAT registration no. GB 872 8106 13) and is authorised and regulated by the Financial Conduct Authority (FCA registration number 442767). MF’s registered address is at 155 Bishopsgate, London, EC2M 3TQ.

The Marex ® group of companies includes Marex Financial (including the Marex Solutions division), Marex Spectron International Limited, CSC Commodities UK Limited, Tangent Trading Limited, Marex Spectron Europe Limited, Marex North America LLC, Marex Capital Markets Inc., Marex Derivative Products Inc., Marex Spectron USA LLC, Spectron Energy Inc., Marex Australia Pty Ltd, Marex MENA Limited, Marex Hong Kong Limited, Marex HK Asia Limited, Marex Spectron Asia Pte. Ltd., Spectron Energy (Asia) Pte. Ltd., Marex France SAS (including the BIP AM division), X-Change Financial Access, LLC, Starsupply Petroleum Europe B.V., Volcap Trading Partners Limited, Volcap Trading Partners France SAS, Arfinco S.A, and HPC Marex SA (including its subsidiaries and branches), OTCex Hong Kong Limited, OTCex LLC and Global Metals Network Limited (individually and collectively “Marex”).

© 2025 Marex. All rights reserved.

This year, our Ada Lovelace Series spotlights two remarkable women whose paths into STEM reflect the same visionary spirit Ada Lovelace embodied nearly two centuries ago: Snigdha Aggarwal and Qianyu Sun.

Snigdha Aggarwal — Curiosity. Analysis. Action.

For Snigdha Aggarwal, curiosity has always been a compass. As a Funds, AMC and QIS Trader, her work sits at the intersection of mathematics, data science, and financial engineering. Each day, she transforms complex data into insight, pricing and managing multi-billion-dollar derivative portfolios while designing scalable infrastructure to support innovation across markets. 

Snigdha’s fascination with STEM began early, nurtured by a love of logic, patterns, and problem-solving. Growing up in a small town in India, she was surrounded by tradition but empowered by parents who encouraged her curiosity without limits. The story of astronaut Kalpana Chawla, the first woman of Indian origin in space, became a lasting source of inspiration. Chawla’s legacy taught her that curiosity is not just an asset – it’s a superpower. 

From engineering studies at IIT Delhi to risk management in Mumbai and trading in London, Snigdha’s career has been a masterclass in adaptability. Markets shift, technologies evolve, and organisations transform – but curiosity, perseverance, and empathy remain constants.
To her, success lies not only in technical mastery but in listening, collaborating, and leading with intention. 

Mentorship, she says, has been a cornerstone of that growth. Whether guiding 850 first-year undergraduates through a redesigned orientation at IIT Delhi or mentoring junior colleagues at Marex, Snigdha views mentorship as a cycle of empowerment. It’s how talent is nurtured, voices are amplified, and barriers are broken for the next generation of women in STEM. 

For Snigdha, Ada Lovelace Day is more than a celebration – it’s a call to action. It’s a reminder that innovation starts with bold questions and that every woman’s voice belongs at the table.

Qianyu Sun — Progress, Not Perfection

As a Structured Product Operations Analyst, Qianyu Sun ensures the seamless operation of Marex’s OTC Derivatives and Structured Notes business. Her work blends precision with innovation – building processes, controls, and automation that keep complex systems running smoothly. 

Her journey into STEM began through friendship. Surrounded by peers thriving in technical fields, Qianyu’s curiosity about programming grew into passion. That spark led her to pursue formal training during her master’s studies, setting her on a path toward a career defined by learning and evolution. 

At Marex, Qianyu takes pride in being part of a team that drives innovation with an entrepreneurial mindset, developing lifecycle management solutions and implementing strategic initiatives through flexible, automated systems. Building controls from the ground up isn’t easy, but for her, it’s deeply rewarding to see ideas turn into impact. 

Her outlook on growth is simple yet profound: embrace change, keep learning, and trust that every bit of effort adds up, even when progress feels slow. Ada Lovelace Day, for Qianyu, serves as a reminder to stay curious, support one another, and recognise that every contribution matters.

Carrying the Legacy Forward

Snigdha and Qianyu’s stories are a testament to the many paths that lead to STEM, each shaped by curiosity, courage, and the willingness to learn. They remind us that progress doesn’t come from perfection but from persistence and purpose. 

At Marex, we’re proud to celebrate the women who continue to push boundaries, build with intent, and inspire others to follow in their footsteps – just as Ada Lovelace once did. 

Lucian Gladstone, Head of EMEA Dairy Derivatives Sales at Marex Hedging Solutions, joined Stu Davison from HighGround Dairy, Vincent Almering from Interfood Global B.V., and moderator Huang Chunlin from the SGX Group to explore that very question during the “Risk Management Panel: Dairy Market Outlook and Hedging Trends”.

From Deficit to Oversupply

The discussion opened with a look at how global supply dynamics are reshaping the market. After a long period of high prices, production across New Zealand, Europe, and the US has surged – turning deficit into oversupply. Butter prices in Europe and the US have weakened sharply, while New Zealand butter has remained slightly more resilient, supported by steady demand from China and South-East Asia.  

Lucian noted that while futures markets are already signalling lower milk prices, these shifts are yet to be fully reflected at the farm gate, particularly in Europe. The panel agreed that this disconnect highlights the importance of better tools and understanding for managing price exposure across the supply chain.

Education and Adoption

Despite dairy being one of Europe’s highest-value agricultural commodities, the volume of hedging in terms of multiples of derivatives to physical remains modest – leaving plenty of room for further growth and market development. Part of that stems from the diversity of the sector – the breadth of Europe’s dairy regions and the production of many specialty dairy products means physical dairy doesn’t always align neatly with standardised commodity contracts. 

But the market is evolving. Greater education, easier access to markets, and the availability of new tools like options are helping more producers and processors explore structured hedging.  

“With greater education and smarter use of hedging tools, the dairy industry can move from reacting to prices to managing them,” Lucian said.From left to right: Huang Chunlin (SGX Group), Lucian Gladstone (Marex Hedging Solutions), and Stu Davison (HighGround Dairy)

Taking the First Steps

When it comes to starting a price-risk management strategy, the panel’s advice was clear: start small and build gradually.
 
Lucian suggested beginning by identifying contracts that can be index-linked, creating a simple, transparent foundation for managing exposure.  

“Understand what you want to achieve and which risks you’re mitigating,” he said. “Even starting with one product helps you build confidence and integrate risk management into your operations.” From left to right: Lucian Gladstone (Marex Hedging Solutions) and Stu Davison (HighGround Dairy)

Continuing the Conversation

Following the panel discussion, Lucian, George Morris, Nigel Brunel and Connor Rogers from the Marex Dairy Derivatives Sales teams in London and Auckland, hosted a client reception in Singapore. The evening brought together dairy professionals, traders, and partners from across the industry – an opportunity to exchange perspectives, strengthen relationships, and build on the discussions from earlier in the day.

Looking Ahead

As market conditions evolve, the ability to manage volatility is becoming ever more central to success in the dairy industry. Through better education, collaboration, and smart use of hedging tools, businesses are finding new ways to protect value and plan with confidence.  

Want to discuss how we can help with your dairy hedging strategy?

Let’s Talk

Moderated by Drew Robinson, Co-Head of EMEA Institutional at Coinbase, the panel also featured Dan Moczulski, UK Managing Director at eToro, and Ovie Faruq, Co-Founder and CEO of Rekt Brands. Together, they explored how established market practices and new technologies are converging to shape the next wave of financial innovation.

The shift toward institutional adoption

Nilesh noted that while crypto began as a largely retail-driven market, it has steadily evolved toward greater institutional participation. Over the past 12 to 18 months, there has been growing demand for institutional-grade products, including derivatives, structured investments, and lending mechanisms, that mirror established financial tools and help improve capital efficiency across digital assets. 

“We’re bringing the tools we’ve refined over decades in TradFi to help an increasingly institutional Digital Assets client set,” he said

He explained that this transition isn’t about replicating traditional finance but rather adapting its best practices to meet the unique characteristics of digital assets, from volatility and liquidity management to the need for robust infrastructure.

The importance of risk management and regulation

The discussion also addressed how capital efficiency, and innovation must progress alongside responsible risk management. Nilesh emphasised that as markets evolve, maintaining financial discipline and clear governance structures will be essential to supporting long-term growth. 

He reflected on how regulation continues to influence the pace of development across different regions. While London remains a hub of crypto talent and innovation, emerging regulatory clarity in jurisdictions such as the U.S. is shaping how institutions approach digital asset markets. These changes are beginning to define where the next phase of activity will take place.

Institutionalising Digital Assets

As the conversation turned to the future, Nilesh highlighted how the next phase of growth in crypto will be shaped by lessons drawn from traditional markets. By applying well-established financial disciplines, including structured product design, derivatives innovation, and prudent risk management, the industry can continue to mature responsibly and sustainably. 

The discussion at Coinbase’s Crypto Forum underscored a broader point: institutional participation and sound infrastructure will be key to unlocking stability and confidence in the evolving digital asset ecosystem. 

The discussion made clear that the next phase of growth in digital assets will depend not only on technology but also on trusted financial infrastructure.

Learn More About Our Digital Asset Offering

The panellists discussed how investors are reassessing traditional portfolio models and incorporating new approaches to diversification. Nestor spoke about the role of structured products in this context, noting that they offer a range of customisation options, such as choice of underlying asset, tenor, liquidity, and payoff profile, allowing investors to tailor exposure to their specific objectives and market views. 

Nestor highlighted how risk management features, including buffers and downside protection, can make structured products adaptable to different market environments. “Structured products can introduce asymmetries that help reduce correlation with traditional asset classes,” he explained, “and that can be valuable when building diversified portfolios.” 

In a separate roundtable session, “The Role of Structured Products in an Investment Portfolio,” Nestor and William Serrano, our Financial Product LATAM Sales, discussed current market dynamics and investor interest across the region. The conversation touched on the types of flows seen in the market, areas of innovation such as crypto-linked products, and the importance of transparency and flexibility in product design. 

Both sessions underscored a shared focus among participants: finding practical ways to adapt investment strategies to a changing environment and exploring the tools that can help manage risk while maintaining opportunity for growth.

Interested in discussing opportunities in structured products? 

Let’s Talk

Agile now offers FX Vol (Volatility), giving clients the ability to trade vanillas and exotics within one platform. Designed for speed and flexibility, FX Vol provides a complete solution for structuring, pricing and managing volatility-driven FX strategies, supporting everything from simple option payoffs to highly complex multi-leg structures.

FX Volatility Covering Vanillas to Exotics with Click-and-Trade 

The FX Vol module offers a full set of tools for trading, analysing, and managing FX volatility products, covering everything from simple options to highly structured payoffs. 

Key Features: 

• Click-and-Trade Across the Spectrum – From vanillas to complex exotics, Agile allows direct execution of trades on a wide range of volatility products. 

• Custom Strategy Builder – Structure and price multi-leg strategies tailored to your needs. 

• View Greeks in Real Time – For any strategy, see key risk metrics such as delta, gamma, vega, theta, and rho, and access most Greeks on any quoted price directly within the platform. 

• Visualisation Tools – Explore volatility surfaces, forward curves, and spot reference pricing with intuitive displays. 

• Save and Share Strategies – Collaborate with your team by storing strategies and sharing them instantly. 

• Trade Blotter – Reload past trades and RFQs, creating continuity and transparency in your workflow. 

• Advanced Pricing Tools – Solve for prices using SpotRef or strikes directly within the platform

By bringing execution into the volatility space, Agile allows clients to move quickly in volatile markets, reducing turnaround times and improving flexibility. 

Why This Matters

Agile’s FX Vol provides a complete solution for structured and volatility-driven FX strategies. Clients benefit from our own internal competitive liquidity, while teams gain a collaborative experience with shared strategy libraries and trade history. 

Above all, users can now rely on speed and certainty of execution across volatility products within a single, unified platform. 

Learn More About Agile

Agile now offers FX Cash trading capabilities across spot, forwards and swaps within a single seamless platform. Built with cutting-edge technology, FX Cash provides clients with the speed, transparency and execution certainty they need to manage their currency exposures efficiently, while delivering a comprehensive toolkit that covers the full spectrum of their hedging and trading needs.

FX Cash Capabilities for Spot, Forwards and Swaps

Our FX Cash module brings institutional-grade execution and transparency to currencies and precious metals trading. 

Key Features: 

• Advanced Order Types – A top-of-the-range selection of order types are available, giving clients flexibility to match product execution with strategy. 

• Market Depth Transparency – View available liquidity across size tiers to assess potential slippage, especially for larger trades. 

• Click-and-Trade for Spot, Forwards and Swaps – Trade directly in the platform with full STP and no delays. 

• Access to 100+ Currency Pairs – Including major and minor currencies and precious metals. 

• Trade Execution on Behalf of Client Accounts – Place trades for client accounts efficiently within the platform. 

• Competitive Pricing – Access pricing from multiple liquidity providers, enabling tighter and more consistent bid-offer spreads. 

• Custom Dashboards – Build your own view of preferred currency pairs and products for a streamlined workflow. 

• Team View – Collaborate in real time by viewing your team’s orders and market activity. 

The result is a trading experience that is fast, transparent, and built for professionals handling both small and large flows.  

Why This Matters

Agile’s FX Cash provides a complete solution for straightforward spot hedges and forwards/swaps execution. Clients benefit from tighter spreads through multiple liquidity sources as well as Marex’s own trader-driven pricing, while teams gain a collaborative experience with shared views and market activity. 

Most importantly, users can rely on speed and certainty of execution within a single, unified platform.

Learn More About Agile

As the corn ethanol industry in Brazil continues to grow, especially in Paraná, our team recognized an opportunity to bring together key stakeholders to discuss the evolving market dynamics. Last week, we hosted a dinner in Cascavel, a city at the heart of this transformation, to delve into how these changes are impacting the region’s grain markets. A notable point of discussion was the recent opening of a new plant in the area, which is expected to significantly influence local agriculture by driving up demand for corn and shaping market trends in the coming years.

Shifting Price Dynamics in Corn Ethanol

Corn’s dual role as both a staple crop and a critical input for ethanol production has positioned it as a focal point in the evolving energy and agricultural landscape. As the demand for ethanol continues to rise, so does the pressure on local corn production, making price and risk management strategies increasingly important.

In a market where price fluctuations are becoming more pronounced, it is important for businesses to rethink their approaches to procurement, production, and risk mitigation. The growing complexity of these interrelated industries means that companies must stay ahead of trends in both grain and ethanol markets to avoid being caught off guard.

Insights on Risk Management from an Industry Expert

One of the highlights of the evening was the presentation by Luciano Jorge Silva, Trader at São Martinho, and an expert in the field.

He shared his approach to navigating the volatility of the corn market, with a focus on three fundamental strategies:

1. 1. 1. Price markup over export liquidation: In order to prevent corn from being shipped away from internal markets, crush industries are willing to pay a premium above the export price level.
   1. 1. Crush margin rebate: Factories may reduce their profit margins in order to bid higher prices for farmers.
   1. 1. Basis analysis:  If the basis is too strong, it’s better to buy corn on the B3 exchange. If the basis is too weak, you can opt to buy physical corn. In both cases, long basis trading (long corn, short futures) should be avoided.

These insights were particularly relevant to those in the audience, providing a practical, day-to-day perspective on the types of decisions industry professionals face in managing price volatility and supply challenges.

A special thanks goes to everyone who joined us from across Brazil and to Luciano for his valuable insights into his decision-making processes. We look forward to continuing these conversations and working together to navigate the complexities of Brazil’s evolving grain and ethanol markets.

Interested in learning more or discussing how we can help manage your risk exposure?

Let’s Talk

The event brought together nearly 2,000 participants from across the bioenergy sector, including agronomy, ESG, logistics, and other related areas. It covered a broad range of technical and market-focused topics relevant to the industry in Brazil. In the panel dedicated to market intelligence and price risk management, Andre joined experts to explore how producers and traders can prepare for and respond to today’s shifting market fundamentals. He focused on the importance of strong risk management strategies and financial discipline as critical tools for resilience in a bearish market.

“Last year’s prices in the sugar market made risk management on the production side relatively simpler,” Andre remarked. “Now the market requires more attention and resources in finding the right hedging solutions to protect margins in a more challenging low-price environment.”

While rising prices in recent years masked weaknesses in some companies’ risk management frameworks, today’s conditions are a stark reminder of the importance of preparedness.

“Companies need to maintain a disciplined approach and follow the risk management policies that have been established,” he added. “That reduces volatility and helps preserve margins in their businesses.”

Andre also highlighted how high-price cycles can sometimes reward a weaker governance, but warned that these benefits are short-lived.

On the high-price cycle from the last few years, companies with lower standards of governance on price risk management ended up benefitting from the upwards move,” he explained. “But they will pay the price now that sugar and ethanol prices are going south. We can’t predict how long the low-price cycle will last, and this can quickly downgrade their credit ratings and highly impact their bankability in the short term.”

The key message from Andre was that resilience in the sugar and ethanol markets requires discipline, structure, and a commitment to long-term strategy over short-term gains.

As the industry continues to navigate volatility, forums like the National Bioenergy Congress provide a critical platform for shared learning and cross-sector collaboration.

Want to ask a question or discuss your sugar risk strategy? 

Let’s Talk

Marex Solutions’ Harry Benchimol, Co-Head of Marex Derivatives Engine, contributed to a lively debate with panellists representing asset managers, service providers and sell side platforms, that considered how the crypto/DeFi market is evolving to offer yield, hedging and risk management benefits to the institutional investor segment, and the pros, cons and institutional use cases for crypto assets in yield generation strategies.

Interestingly, while some panellists felt that the pace of innovation in structuring crypto-linked solutions remained slow and niche, others – including Harry – had a different perspective and direct experience of tangible progress in bridging traditional finance and digital assets.

“Structured products offer a familiar and bankable way for traditional finance to access the crypto market. Packaged as securitized notes with ISINs, they fit seamlessly into existing workflows, allowing institutions to gain exposure to this new asset class just as they would in equities, FX, or rates.”

While many investors may start with conservative trades like Bitcoin basis, Marex Solutions’ experience is they move inexorably toward more sophisticated structures with greater market exposure through yield enhancement, participation, or capital protection strategies, across an expanding range of crypto underlyings.

Wrapping traditional products around new digital assets

The entry point for most institutions embracing crypto is “familiarity”. Changing mindsets and behaviours of traditional financial markets participants is typically challenging – asset allocators and trading desks don’t necessarily want to reinvent familiar processes, but to apply known strategies to new markets and opportunities.

That’s why Marex Financial Products approach is to replicate the mechanics of traditional product structuring, with cryptocurrency as the underlying asset.

“The idea is to remove all of the complexity for clients. ‘You’re used to buying an equity-based structured product? Great! We can build it exactly the same way, except the asset is different.”

This approach allows institutions to engage in crypto, without needing to overhaul infrastructure or risk models: Fully regulated channels and investment-grade wrappers make access to digital assets as straightforward as buying a note on Apple or Google.

Basis trades: The institutional foot in the door?

Despite market volatility, the basis trade continues to resonate as one of the most accessible and intuitive strategies for institutional investors. In essence, it exploits the difference between spot and futures prices, and when structured properly, it offers compelling, market-neutral yield potential.

Prior to the advent of Bitcoin ETFs, retail-driven demand for leverage, limited access to custody solutions – and the crypto-native phenomenon of being “crypto rich, cash poor” – all helped to drive premiums in futures markets. Although yields have since compressed, appetite remains strong for regulated, yield-bearing instruments that offer regulated, crypto-linked exposure without directional risk.

Regulated infrastructure matters

One of the most pressing themes from the discussion was the divide between crypto-native practices and institutional requirements. While some participants lamented the fragmentation of venues and lack of interoperability between them, there was nonetheless consensus that institutional capital markets demand regulated infrastructure, capital efficiency and transparency.

For many investors, particularly those steeped in traditional finance, crypto remains opaque or misunderstood. “It’s not about convincing someone to put their house on Bitcoin. It’s about building a safe gateway to crypto exposure in a regulated, transparent way.”

Marex is proactive in this regard. “We’re not waiting for regulation to catch up. We’re doing the work now — building within regulated frameworks and partnering with credible players. Today, we’re an investment-grade issuer offering crypto-linked structured products, governed by the same stringent protocols we apply to equity and fixed income.”

Every Marex Financial Products structured product – regardless of asset component – is issued under the same governance, ISIN structure and investment-grade issuance as its equity-linked notes. This institutional lens also reframes the idea of capital protection in the crypto space:  The solution? Pricing risk properly, setting expectations clearly and offering transparency around operational, cybersecurity and counterparty exposures.

During the panel, there was a comment suggesting that structured products lack transparency and mislead investors by promising guaranteed returns while exposing them to capital loss. This is a fundamental misunderstanding. There’s a critical distinction between “guaranteed return” and “defined return”.

Harry offered some clarification

“This is a fundamental misunderstanding. All of our structured products are formula-based, meaning every possible outcome is clearly defined upfront, including conditions under which capital may be at risk. There is no discretion in the final payout. Investors know precisely how the product will behave across different market scenarios. That’s transparency by design.”

Structuring for yield, but with guardrails

A key driver for most institutional clients remains yield. In high-volatility markets like crypto, the options premium can be significant – especially when structured thoughtfully, using downside buffers or capped upside.

“Clients are looking for yield… and the right structured solutions offer partial downside protection, while tapping into the considerable upside potential of crypto. Whether it’s autocallables, capital-protected or participation notes, the high implied volatility of digital assets creates the opportunity to extract substantial premium”

A niche market…..but not for long

Marex Financial Products has spent years building a reputation for transparency and conservative structuring, traits that are especially critical when navigating the volatile waters of digital assets. Since 2021, crypto has formed part of our product universe – not as a novelty, but as a new and integral currency layer that can be applied to traditional frameworks.

Despite rising interest, however, crypto-linked structured products still represent a small fraction of the overall market. The panel was questioned as to whether structured crypto products could – and would – truly scale, citing limitations in product availability, regulatory clarity, and risk appetite. But volume trends and client demand suggest momentum is building – and accelerating.

“Crypto is still a small part of the structured products market – but there’s immense room for growth. We’ve already issued over $1 billion in products linked to crypto.”

With increasing institutional comfort – evidenced by the increasing engagement of some  banks, family offices and traditionally conservative allocators – the building blocks are in place. Structured correctly – with credibility, regulation, and clarity – we believe that digital assets will move increasingly from the periphery to the core of portfolio allocation decisions.

The final word from Harry?

“Structured products remain one of the most effective entry points for traditional investors seeking exposure to crypto. They provide a familiar, regulated format that allows clients to start with conservative strategies, before moving into more directional or yield-focused structures with capital at risk. “At Marex, we offer a comprehensive range of crypto-linked structured products and are proud to be a provider in the space with an investment-grade credit rating, giving institutional clients the confidence and security they expect.

Learn More About Our Digital Asset Offering