What's exciting to me about this is that it could enable trading of these crypto securities outside of typical brokers/exchanges, as well as derivative securiti

What's exciting to me about this is that it could enable trading of these crypto securities outside of typical brokers/exchanges, as well as derivative securities (ie. hold an index of crypto securities, rebalancing from in/out flows from those who buy/trade on the derivatives). Honestly, I can see an "regulated"[0] crypto securites derivative market being deeper than the underlying crypto securites themselves since they'll trade more OTC. [0] To the same degree that any government can regulate trade of their currency/debt on global markets.