Short-term weakness in cryptocurrency prices is obscuring a more important structural shift: demand for crypto- and DeFi-based investment solutions is rising sharply. Institutional investors are increasingly focusing on digital assets not as a speculative niche, but as a distinct and investable asset class. “We are currently seeing a growing institutionalisation of digital assets”, says Daniel Knoblach, Board Member at Super Global Services SA. “What makes this asset class particularly compelling for many institutional investors is the combination of on-chain investment strategies with off-chain investability.”
The aim is to provide investors with standardised access to blockchain-based strategies without the operational, technical and, in some cases, regulatory hurdles associated with direct token investments. “The focus is consistently on structuring an ISIN-eligible, bankable security that meets institutional investors’ requirements in terms of regulation, transparency and infrastructure”, Knoblach points out. Such a product allows investment strategies to be executed directly on the blockchain while retaining a conventional securities wrapper. While allocations to DeFi protocols take place on-chain, the investment itself is made accessible off-chain via established capital-markets infrastructure. “This gives investors exposure to digital assets and DeFi yields without requiring them to manage their own wallets or interact directly with token transfers”, Knoblach adds.
A further advantage lies in the scope for embedded diversification. “DeFi, yield and private-debt strategies can all be mapped within a single compartment”, says Knoblach. The ring-fenced architecture ensures clear asset segregation and defined risk limitation at the level of each individual compartment. “Another major benefit of the combined on-chain/off-chain structure is that it transfers established market standards into a new investment universe”, Knoblach explains. “Reporting, settlement and custody follow institutional processes, while value creation is generated through decentralised finance protocols.” This facilitates integration into the existing portfolios, systems and governance frameworks of institutional investors.
Free and non-binding
Flexible and dynamic allocation is particularly important in the DeFi segment. “The DeFi sector is evolving rapidly, with new innovations constantly emerging”, says Knoblach. “The ability to respond quickly and continuously to market developments, and to integrate new protocols and strategies, is therefore crucial.” Because DeFi-based strategies are partly decoupled from traditional capital markets, they can offer meaningful diversification benefits at overall portfolio level. By embedding such strategies in a regulated security, these benefits can be made readily accessible to institutional and semi-institutional investors alike.
Another key priority is the use of established institutional infrastructure. This includes regulated custody solutions and collaboration with experienced partners across the value chain. “The objective is to minimise operational risk, meet security and compliance requirements, and establish a robust risk-management framework,” says Knoblach. “The result is a transparent investment vehicle with clearly defined processes, reporting standards and governance structures.”
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