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Duncan Trenholme
Managing Director | TP ICAP | Global Co-Head of Digital Assets
Duncan Trenholme is a prominent figure in the digital assets and cryptocurrency space, currently serving as the Managing Director and Global Co-Head of Digital Assets at TP ICAP, the world's largest inter-broker dealer.12
Professional Background
Trenholme has been instrumental in building out TP ICAP's crypto and digital assets business.2 His role involves setting the firm's strategy for cryptoassets and blockchain technology.3 With a strong background in finance, Trenholme started his career in equity derivatives at TP ICAP before transitioning to the crypto sector in 2018.1
Expertise and Influence
As a key figure in the digital assets industry, Trenholme offers valuable insights on market trends and institutional adoption of cryptocurrencies. He has noted significant developments in the crypto market, such as:
- The increasing interest from traditional financial firms in crypto derivatives1
- CME Group surpassing Binance as the largest exchange for Bitcoin futures contracts1
- Record monthly trading volumes in digital assets at TP ICAP1
Industry Outlook
Trenholme is optimistic about the future of digital assets in traditional finance. He anticipates:
- More focus on over-the-counter derivatives and non-deliverable forwards in 20241
- Increased institutional interest in the digital assets sector1
- Further blurring of the lines between traditional finance and crypto1
Team Building and Expansion
Under Trenholme's leadership, TP ICAP's digital assets team has been expanding. He has been actively recruiting talent with strong finance backgrounds to support the growth of their digital assets business.1
Duncan Trenholme's LinkedIn profile can be found under the username duncan-trenholme-56b507139.2
Highlights
Crypto markets are grappling with the cost of funding Bitcoin purchases by ETFs that operate on a T+1 cycle - Ben St. Clair Risk.net.
It’s where two systems are forced to interact that the differences become clear.
Crypto typically operates with realtime or same-day settlement. Traditional U.S securities markets are just adjusting to life with T+1 settlement, having transitioned to this shorter cycle as of May 28, 2024.
The result is a mismatch in settlement cycles for cash and crypto:
“Our clients are having to manage a settlement mismatch on the physical hedging of the ETF, which is a strain on their own inventory or balance sheet”
It was great speaking to Ben about this important story, alongside Matt Boyd at Coinbase, Robert Strebel at DRW, Michael Lie at Flow Traders and Matthew Sigel at VanEck.
https://lnkd.in/esmemxBk
Today TP ICAP becomes an official partner of Stand With Crypto UK, a Coinbase led initiative.
We believe that blockchain technology has the potential to supercharge the City of London, delivering new opportunities for the 🇬🇧UK’s capital markets.
With a growing Digital Assets business that has been servicing clients in cryptoassets since 2020 and company heritage dating back to 1866 in the City of London, we are excited to support this movement and work towards putting the UK’s financial markets on the strongest competitive footing.
If you believe that we need a comprehensive regulatory framework for cryptoassets, or that we should promote the UK as a global web3 and tokenisation hub, I encourage you to sign-up alongside us here: https://lnkd.in/gAtht9F7
Read the full manifesto here: https://lnkd.in/gbDnUhww
TP ICAP Group heritage: https://lnkd.in/gEEYuKrp
#crypto #blockchain #web3 #tradfi
