US Hedge Fund Market size was valued at USD 5.27 Billion in 2024 and is projected to reach USD 11.76 Billion by 2032, growing at a CAGR of 10.1% from 2026 to 2032.Rising Institutional Investment: The US hedge fund market is experiencing a surge in institutional investment, driven by the need for diversified portfolios and higher returns. According to the Securities and Exchange Commission (SEC) in their 2023 report, institutional investors now account for over 70% of hedge fund assets, up from 65% in 2020. Recent news from BlackRock highlights a growing trend of pension funds and endowments allocatingGrowing Demand for Alternative Strategies: The demand for alternative investment strategies is growing as traditional asset classes face increased volatility.

United Kingdom Hedge Fund Market was valued at USD 1.21 Trillion in 2024 and is expected to reach USD 1.80 Trillion by 2030 with a CAGR of 6.8%.

A list of the top 50 Bright Futures Wealth Management LLC holdings showing which stocks are owned by Bright Futures Wealth Management LLC's hedge fund.

Repo Futures Market Outlook

According to our latest research, the global repo futures market size reached USD 1.37 billion in 2024, with a robust compound annual growth rate (CAGR) of 21.6% projected from 2025 to 2033. By 2033, the market is anticipated to reach USD 9.91 billion, driven primarily by increasing demand for efficient risk management tools, expanding participation from institutional investors, and the ongoing evolution of global financial markets. This accelerated growth is a direct reflection of the rising sophistication in fixed income trading strategies and the need for enhanced liquidity management solutions across the banking and financial services sectors.

One of the principal growth factors fueling the expansion of the repo futures market is the heightened demand for risk mitigation instruments amid volatile interest rate environments. As central banks across the globe continue to recalibrate monetary policy in response to inflationary pressures and macroeconomic uncertainty, market participants are increasingly leveraging repo futures to hedge exposures and manage short-term funding risks. The flexibility and transparency offered by these instruments have positioned them as a preferred choice for both buy-side and sell-side institutions aiming to navigate unpredictable market conditions efficiently. Furthermore, the standardization of repo futures contracts has facilitated greater participation, enhancing overall market depth and liquidity.

Technological advancements and the digital transformation of trading infrastructure are also pivotal in shaping the trajectory of the repo futures market. The proliferation of advanced trading platforms, coupled with the integration of artificial intelligence and machine learning algorithms, has enabled real-time analytics and improved price discovery for repo futures. These innovations have reduced operational inefficiencies and minimized transaction costs, thereby attracting a broader spectrum of market participants, including hedge funds and proprietary trading firms. Additionally, regulatory initiatives aimed at increasing transparency and reducing systemic risk have further catalyzed the adoption of repo futures as a mainstream financial instrument.

Another significant driver is the globalization of financial markets and the growing interconnectedness of capital flows. As cross-border investment activity intensifies, the need for reliable and standardized instruments to manage collateral and funding exposures has become increasingly apparent. Repo futures provide an effective mechanism for managing short-term liquidity, supporting the operational needs of global banks, asset managers, and central counterparties. The expanding role of central clearinghouses and the harmonization of trading standards have also contributed to the seamless integration of repo futures into the broader ecosystem of fixed income derivatives, further reinforcing their relevance in global financial markets.

Interest Rate Futures Options are becoming increasingly relevant in the context of repo futures markets. These options provide market participants with additional tools for hedging interest rate risks, particularly in volatile market conditions. As interest rates fluctuate, the ability to use futures options allows for more nuanced risk management strategies, enabling traders to tailor their positions according to specific market expectations. The integration of interest rate futures options with repo futures can enhance liquidity and provide more comprehensive solutions for managing interest rate exposures. As financial markets continue to evolve, the demand for such sophisticated instruments is expected to grow, reflecting the broader trend towards more dynamic and flexible trading strategies.

From a regional perspective, North America currently dominates the repo futures market, accounting for the largest share in 2024, primarily due to the mature financial infrastructure and the presence of leading exchanges and market participants. However, the Asia Pacific region is expected to exhibit the fastest growth over the forecast period, driven by rapid financial market development, regulatory reforms, and increased adoption of electronic trading platforms. Europe remains a significant market, supported by the region's large institutional investor base

Explore the Project Investment and Asset Management Services market forecast, drivers, trends, and CAGR of 12%. Discover key players, regional insights, and segment analysis from 2019-2033.

Swap Futures Market Outlook

According to our latest research, the global swap futures market size reached USD 1.42 trillion in 2024, with a robust compound annual growth rate (CAGR) of 18.7%. This dynamic market is projected to achieve a valuation of USD 7.82 trillion by 2033, driven by the increasing demand for transparent, standardized, and risk-mitigating financial instruments in both developed and emerging economies. Growth in the swap futures market is primarily fueled by regulatory reforms, rising volatility in interest rates and currencies, and the ongoing digitization of trading platforms.

One of the most significant growth factors for the swap futures market is the tightening of global financial regulations, especially in the aftermath of the 2008 financial crisis. Regulatory bodies such as the Commodity Futures Trading Commission (CFTC) and the European Securities and Markets Authority (ESMA) have implemented stringent requirements for over-the-counter (OTC) derivatives, promoting the adoption of exchange-traded swap futures. These regulations enhance market transparency, reduce systemic risk, and encourage market participants to shift from traditional OTC swaps to standardized swap futures contracts. As a result, financial institutions and corporate treasuries are increasingly leveraging swap futures to manage interest rate, credit, and currency risks in a more secure and compliant manner.

Technological advancements in trading platforms have also played a pivotal role in the expansion of the swap futures market. The proliferation of sophisticated electronic trading systems has facilitated faster, more efficient, and cost-effective execution of swap futures contracts. Enhanced liquidity, real-time price discovery, and improved risk management tools offered by modern trading platforms are attracting a broader spectrum of end-users, including hedge funds, asset managers, and even retail investors. Furthermore, the integration of artificial intelligence and machine learning within trading algorithms is enabling market participants to capitalize on arbitrage and speculation opportunities, further driving market growth.

Another critical factor propelling the swap futures market is the heightened volatility in global interest rates, credit spreads, and currency exchange rates. The ongoing macroeconomic uncertainties, including inflationary pressures, geopolitical tensions, and monetary policy shifts, have led to increased demand for effective hedging instruments. Swap futures provide a flexible and standardized solution for mitigating such risks, enabling corporations and institutional investors to safeguard their portfolios against adverse market movements. The growing awareness of risk management best practices and the need for efficient capital allocation are expected to sustain the upward trajectory of the swap futures market in the coming years.

From a regional perspective, North America continues to dominate the swap futures market, accounting for nearly 42% of the global market share in 2024. The region’s leadership is underpinned by a mature financial ecosystem, robust regulatory frameworks, and the presence of leading trading platforms such as the Chicago Mercantile Exchange (CME). Europe follows closely, supported by the adoption of MiFID II regulations and a strong institutional investor base. Meanwhile, the Asia Pacific region is witnessing the fastest growth, with a CAGR of 21.3%, fueled by rapid financial market development, economic expansion, and increasing participation from regional banks and corporations. Latin America and the Middle East & Africa, while still emerging, are gradually integrating swap futures into their risk management strategies, reflecting the global reach and potential of this market.

Product Type Analysis

The swap futures market is segmented by product type into interest rate swap futures, credit default swap futures, currency swap futures, commodity swap futures, and others. Interest rate swap futures represent the largest and most liquid segment, accounting for more than 55% of the total market in 2024. Their dominance is attributed to the persistent volatility in global interest rates and the need for standardized risk management solutions among banks, asset managers, and corporations. These instruments enable market participants to hedge against fluctuations in benchmark interest rates such as LIBO

Repo Futures Market Outlook

According to our latest research, the global Repo Futures market size reached USD 4.6 billion in 2024, with a robust year-on-year growth trajectory. The market is projected to expand at a CAGR of 14.2% from 2025 to 2033, ultimately reaching USD 14.2 billion by 2033. This remarkable growth is being driven by the increasing demand for short-term funding solutions, the evolution of trading infrastructure, and the rising participation of institutional investors in the repo futures ecosystem. As per our comprehensive analysis, the Repo Futures market is witnessing a paradigm shift, underpinned by regulatory clarity, technological advancements, and the growing need for liquidity management among financial institutions worldwide.

A significant growth factor shaping the Repo Futures market is the intensifying focus on liquidity management and risk mitigation among financial institutions. The persistent volatility in global financial markets, coupled with unpredictable interest rate cycles, has heightened the importance of having efficient short-term funding mechanisms. Repo futures, by offering standardized contracts and transparent pricing, enable banks, asset managers, and hedge funds to hedge interest rate risk and manage their liquidity positions more effectively. This has led to a surge in adoption, especially as regulatory frameworks such as Basel III and IV emphasize robust liquidity coverage ratios and capital adequacy. The demand for overnight and term repo futures is further amplified by the growing sophistication of trading strategies employed by institutional investors seeking to optimize collateral and funding costs.

Another pivotal driver for the Repo Futures market is the rapid technological transformation of trading platforms. The proliferation of electronic trading and the integration of advanced analytics and algorithmic trading tools have revolutionized the execution and settlement of repo futures contracts. Exchange-traded and over-the-counter (OTC) platforms now offer enhanced transparency, lower transaction costs, and improved risk management features, attracting a broader spectrum of participants. This digitization of repo futures trading has not only increased market accessibility for smaller institutions and corporates but has also facilitated the entry of new products and innovative contract structures. As a result, the market is experiencing higher liquidity, tighter spreads, and greater operational efficiency, which collectively fuel the overall expansion of the Repo Futures market.

The evolving regulatory environment is also a crucial element in the growth of the Repo Futures market. Regulators across major financial centers have introduced measures to promote transparency, mitigate systemic risk, and strengthen the resilience of repo markets. These initiatives, including mandatory reporting, central clearing, and the standardization of contract terms, have increased market confidence and encouraged broader participation. Furthermore, the alignment of repo futures with global benchmark rates, such as SOFR and €STR, has enhanced the attractiveness of these instruments for hedging and speculative purposes. The confluence of regulatory support and market innovation is expected to sustain the upward trajectory of the Repo Futures market in the coming years.

From a regional perspective, North America leads the global Repo Futures market, accounting for the largest share due to its highly developed financial infrastructure, active participation by major banks and asset managers, and early adoption of electronic trading platforms. Europe follows closely, driven by regulatory harmonization and the growing integration of repo markets across the Eurozone. Asia Pacific is emerging as a high-growth region, supported by the expansion of capital markets, increased cross-border investment flows, and the modernization of trading systems. Latin America and the Middle East & Africa are gradually gaining traction, albeit from a smaller base, as local financial institutions seek to diversify their funding sources and enhance risk management practices. This regional diversification underscores the global relevance and resilience of the Repo Futures market.

Product Type Analysis

The Repo Futures market is segmented by product type into Overnight Repo Futures and Term Repo Futures, each catering to distinct liquidity and risk management needs. Overnight Repo Futures are particularly popular am

Swap Futures Market Outlook

According to our latest research, the global swap futures market size in 2024 is valued at USD 3.9 billion, reflecting a robust and expanding landscape driven by evolving financial risk management needs and increasing demand for transparent, standardized derivatives instruments. With a remarkable CAGR of 14.2% projected for the period 2025–2033, the market is forecasted to reach an impressive USD 12.1 billion by 2033. This growth is primarily fueled by the increasing adoption of swap futures for hedging interest rate, credit, and currency risks, as well as the growing sophistication of trading strategies among institutional investors worldwide.

A key growth factor propelling the swap futures market is the heightened regulatory scrutiny and evolving compliance requirements in global financial markets. Regulatory reforms such as the Dodd-Frank Act in the United States and the European Market Infrastructure Regulation (EMIR) in Europe have mandated greater transparency, central clearing, and standardized trading of derivatives contracts. Swap futures, as exchange-traded derivatives, offer significant advantages over traditional over-the-counter (OTC) swaps, including reduced counterparty risk, improved price discovery, and lower capital requirements. These regulatory drivers are compelling financial institutions and corporate treasuries to increasingly favor swap futures for risk management and speculative purposes, thereby accelerating market growth.

Another significant driver is the continuous innovation in trading technologies and the proliferation of electronic trading platforms. The migration from voice-based OTC trading to highly automated, electronic exchange-traded platforms has substantially enhanced the liquidity, accessibility, and efficiency of swap futures markets. Advanced algorithmic trading, real-time risk analytics, and seamless integration with clearinghouses have made swap futures more attractive to a broader spectrum of market participants, including asset managers, hedge funds, and proprietary trading firms. The resulting surge in trading volumes and open interest further reinforces the virtuous cycle of liquidity and market depth, underpinning sustained expansion in the swap futures market.

Furthermore, the shift in global interest rate environments and currency volatility has amplified the need for robust hedging solutions among corporates and institutional investors. As central banks adjust monetary policies in response to inflationary pressures and macroeconomic uncertainties, the demand for interest rate, credit, and currency swap futures as risk mitigation tools has intensified. These instruments enable market participants to efficiently manage exposures, lock in funding costs, and exploit arbitrage opportunities across diverse asset classes. The growing interconnectedness of global financial markets and the increasing complexity of risk profiles are expected to continue driving the adoption of swap futures over the coming decade.

In the realm of financial derivatives, Total Return Equity Swaps have emerged as a pivotal tool for investors seeking to gain exposure to equity returns without directly owning the underlying assets. These swaps allow parties to exchange the total return of an equity asset, including dividends and capital gains, for a predetermined interest rate or another financial instrument's return. This mechanism provides flexibility and efficiency in managing equity exposure, particularly in volatile markets. The increasing use of Total Return Equity Swaps reflects a broader trend towards sophisticated risk management strategies, enabling investors to optimize their portfolios while mitigating potential risks associated with direct equity investments.

From a regional perspective, North America currently dominates the swap futures market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The United States, in particular, has established itself as a global hub for swap futures trading, supported by advanced market infrastructure, deep liquidity pools, and a mature regulatory environment. Europe is witnessing steady growth, propelled by regulatory harmonization and increased participation from institutional investors. Meanwhile, Asia Pacific is emerging as a high-growth region, f

Interest Rate Futures Market Outlook

According to our latest research, the global Interest Rate Futures market size reached USD 5.8 trillion in 2024, reflecting a robust and sustained appetite for risk management and speculative opportunities in global financial markets. The market is projected to grow at a CAGR of 7.2% from 2025 to 2033, reaching an estimated USD 10.8 trillion by 2033. This growth is primarily driven by increasing volatility in global interest rates, a rising demand for effective hedging instruments, and expanding participation from institutional investors, banks, and hedge funds. As per our latest research, the market is witnessing a structural transformation fueled by technological advancements, regulatory reforms, and the globalization of financial markets, making interest rate futures an indispensable tool for risk management and investment strategies worldwide.

One of the most significant growth factors for the Interest Rate Futures market is the heightened volatility and unpredictability of global interest rates. Central banks across major economies have been actively adjusting their monetary policies in response to inflationary pressures, economic recovery post-pandemic, and geopolitical uncertainties. These frequent changes in interest rates have created an urgent need for market participants to manage their exposure to interest rate risks. As a result, both institutional and retail investors are increasingly turning to interest rate futures as a cost-effective and efficient means to hedge against adverse movements in interest rates. The ability of these instruments to offer standardized contracts, deep liquidity, and transparent pricing further enhances their appeal, driving greater adoption across diverse market segments.

Technological innovation is another critical driver propelling the expansion of the Interest Rate Futures market. The proliferation of advanced trading platforms, algorithmic trading, and real-time data analytics has significantly improved market accessibility and operational efficiency. Exchange-traded and over-the-counter platforms are now equipped with sophisticated risk management tools, automated execution capabilities, and enhanced security features that cater to the evolving needs of institutional investors, banks, and hedge funds. These technological advancements have lowered entry barriers, increased trading volumes, and fostered greater market participation from a broader spectrum of end-users. Additionally, the integration of artificial intelligence and machine learning in trading strategies is enabling market participants to identify and capitalize on arbitrage opportunities with unprecedented speed and accuracy.

Regulatory reforms and the globalization of financial markets are also playing an instrumental role in shaping the growth trajectory of the Interest Rate Futures market. Regulatory bodies across North America, Europe, and Asia Pacific are emphasizing greater transparency, risk mitigation, and investor protection in derivatives trading. The implementation of stringent margin requirements, centralized clearing, and reporting standards has enhanced market integrity and reduced systemic risks. Furthermore, the liberalization of capital markets in emerging economies and cross-border collaboration among exchanges are facilitating the seamless flow of capital and expanding the reach of interest rate futures to new geographies. These regulatory and structural developments are creating a more resilient and inclusive market ecosystem, supporting sustained growth over the forecast period.

From a regional perspective, North America continues to dominate the Interest Rate Futures market, accounting for the largest share in both trading volumes and open interest. This dominance is attributed to the presence of well-established exchanges, a mature financial infrastructure, and a diverse base of institutional investors. Europe and Asia Pacific are also witnessing robust growth, driven by regulatory harmonization, the introduction of new contract types, and the increasing participation of global investors. Latin America and the Middle East & Africa are emerging as promising markets, supported by ongoing financial sector reforms and the gradual adoption of derivatives trading. The regional outlook remains positive, with each region contributing uniquely to the overall expansion of the market.

Contract Type Analysis

The Contract Type segment of the Intere

Delta One Trading Services Market Outlook

According to our latest research, the global Delta One Trading Services market size reached USD 3.85 billion in 2024, reflecting robust growth driven by increased demand for synthetic investment exposure and cost-effective hedging mechanisms. The market is expected to expand at a CAGR of 7.2% from 2025 to 2033, with the market size forecasted to reach USD 7.23 billion by 2033. The primary growth factor fueling this expansion is the growing sophistication of institutional investors and their appetite for innovative, low-cost products that offer efficient access to underlying assets without direct ownership.

The Delta One Trading Services market is experiencing dynamic growth, propelled by several key factors. One of the most significant drivers is the increasing complexity and diversity of global financial markets, which has led investors to seek more efficient and transparent ways to gain exposure to a wide range of assets. Delta One products, such as equity swaps, futures, and exchange-traded funds, offer near-perfect correlation with the underlying securities, enabling institutional and retail investors to execute sophisticated trading strategies, manage risk, and optimize returns. The integration of advanced technologies, including algorithmic trading and real-time analytics, has further enhanced the appeal of Delta One services by improving execution speed, reducing transaction costs, and increasing market liquidity. As a result, financial institutions are increasingly incorporating Delta One strategies into their core offerings, fueling further market expansion.

Another crucial growth factor is the regulatory environment, which has evolved significantly in recent years. Regulatory reforms, particularly in North America and Europe, have emphasized transparency, risk management, and capital adequacy, prompting asset managers and hedge funds to adopt Delta One products as a means to comply with new standards while maintaining portfolio efficiency. The shift toward passive investing and the surging popularity of exchange-traded funds have also contributed to the growth of this market segment. Investors are drawn to the flexibility and tax efficiency offered by Delta One instruments, which allow them to replicate index performance, hedge exposures, and implement arbitrage strategies without the complexities associated with direct asset ownership. These trends are expected to persist, further driving demand for Delta One Trading Services globally.

The proliferation of financial innovation and the ongoing digital transformation of capital markets have also played a pivotal role in the expansion of the Delta One Trading Services market. The rise of fintech platforms and electronic trading venues has democratized access to sophisticated financial instruments, enabling a broader spectrum of investors to participate in Delta One trading. Additionally, the growing adoption of artificial intelligence and machine learning in trade execution and portfolio management has enhanced the precision and efficiency of Delta One strategies. As financial institutions continue to invest in technology and infrastructure, the market is expected to benefit from improved service delivery, tighter spreads, and greater product customization, thereby attracting new participants and deepening market penetration.

From a regional perspective, North America currently dominates the Delta One Trading Services market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The market in Asia Pacific is anticipated to register the highest CAGR during the forecast period, driven by rapid financial market development, increased institutional participation, and favorable regulatory reforms. Latin America and the Middle East & Africa are also witnessing steady growth, albeit from a smaller base, as local investors seek exposure to global assets through Delta One products. The regional outlook remains positive, with ongoing globalization of capital flows and rising demand for innovative investment solutions supporting sustained market expansion across all major geographies.

Product Type Analysis

The Delta One Trading Services market is segmented by product type into Equity Swaps, Futures, Forwards, Exchange-Traded Funds (ETFs), Custom Baskets, and Others. Among these, equity swaps and futures represent the largest portion, accounting for a significant share of the market in 2024

Crypto Derivatives Market Outlook

According to our latest research, the global crypto derivatives market size reached USD 4.5 trillion in 2024, driven by surging demand for risk management tools and speculative trading among institutional and retail investors. The market exhibited a robust CAGR of 21.7% over the past year, and is forecasted to expand to USD 30.7 trillion by 2033, reflecting the growing integration of digital assets in mainstream financial portfolios and the continuous evolution of trading infrastructure. This accelerated growth is propelled by the increasing adoption of cryptocurrencies, the proliferation of sophisticated trading platforms, and the emergence of innovative financial products tailored for both institutional and retail participants.

A key growth factor in the crypto derivatives market is the increasing sophistication and participation of institutional investors. As regulatory clarity improves and market infrastructure matures, hedge funds, asset managers, and proprietary trading firms are increasingly leveraging crypto derivatives to hedge exposure, manage portfolio risk, and enhance returns. The influx of institutional capital has led to greater liquidity, tighter spreads, and improved price discovery across major derivatives products such as futures, options, and perpetual swaps. This institutionalization is further supported by the development of custody solutions, risk management frameworks, and compliance protocols, which together foster a more secure and reliable trading environment. The resulting professionalization of the market is expected to sustain high growth rates and drive further innovation in product offerings.

Another significant driver is the relentless pace of technological advancement and innovation in trading platforms. The emergence of decentralized exchanges (DEXs) and smart contract-based derivatives has democratized access to sophisticated trading instruments, enabling retail investors to participate alongside institutional players. These platforms offer enhanced transparency, reduced counterparty risk, and lower barriers to entry, attracting a broader user base from regions with limited access to traditional financial infrastructure. Furthermore, the integration of artificial intelligence, machine learning, and advanced analytics into trading strategies and risk management systems is enhancing the efficiency and effectiveness of derivatives trading, thereby fueling adoption and market expansion.

Regulatory developments are also playing a pivotal role in shaping the crypto derivatives market. Governments and regulatory bodies across major economies are increasingly recognizing the need to provide a clear legal framework for crypto derivatives trading, balancing innovation with investor protection. The introduction of licensing regimes, capital requirements, and anti-money laundering (AML) standards is fostering greater trust and legitimacy within the market. These regulatory advancements are encouraging the entry of traditional financial institutions and facilitating the launch of regulated products, such as Bitcoin and Ethereum futures and options on established exchanges. As regulatory harmonization progresses across jurisdictions, the market is expected to experience further growth and integration with traditional financial systems.

From a regional perspective, Asia Pacific is emerging as a dominant force in the crypto derivatives market, accounting for a significant share of global trading volumes. The region benefits from a large and tech-savvy population, progressive regulatory stances in key markets like Singapore and Hong Kong, and strong demand for innovative financial products. North America and Europe are also witnessing substantial growth, driven by institutional adoption and the expansion of regulated trading venues. Meanwhile, Latin America and the Middle East & Africa are gradually increasing their market presence, leveraging favorable demographics and growing interest in digital assets as a hedge against currency volatility and inflation. This global expansion underscores the universal appeal and versatility of crypto derivatives as essential tools for risk management and speculative investment.

Product Type Analysis

The crypto derivatives market by product type is segmented into futures, options, perpetual swaps, forwards, and others, with each segment catering to distinct trading strategies and risk profiles. Futures contracts ha

Strong returns in various financial markets and increased trading volumes have benefited businesses in the industry. Companies provide underwriting, brokering and market-making services for different financial instruments, including bonds, stocks and derivatives. Businesses benefited from improving macroeconomic conditions despite the high-interest-rate environment for most of the period due to inflationary pressures. However, the anticipation of interest rate cuts in the current year can limit interest income from fixed-income securities. As interest rates fall, fixed income securities will experience an outflow of capital and equities will experience an inflow of funds. The Fed is monitoring inflation, employment figures and the effects of tariffs along with other economic factors before making rate cut decisions. Overall, revenue has been growing at a CAGR of 8.5% to $491.0 billion over the past five years, including an expected increase of 1.8% in 2025 alone. Industry profit has grown during the same time due to greater interest income from bonds and will comprise 16.2% of revenue in the current year. While many industries struggled at the onset of the period due to economic disruptions stemming from the volatile economic environment and supply chain issues, businesses benefited from the volatility. Primarily, companies have benefited from increased trading activity on behalf of their clients due to fluctuations in asset prices. This has led to higher trade execution fees for firms at the onset of the period. Similarly, debt underwriting increased as many businesses have turned to investment bankers to help raise cash for various ventures. Also, improved scalability of operations, especially regarding trading services conducted by securities intermediaries, has helped increase industry profits. Structural changes have forced the industry's smaller businesses to evolve. Because competing in trading services requires massive investments in technology and compliance, boutique investment banks have alternatively focused on advising in merger and acquisition (M&A) activity. Boutique investment banks' total share of M&A revenue is forecast to grow through the end of 2030. Furthermore, the industry will benefit from improved macroeconomic conditions as inflationary pressures are expected to ease. This will help asset values rise and interest rate levels to be cut, thus allowing operators to generate more from equity underwriting and lending activities. Overall, revenue is forecast to grow at a CAGR of 1.4% to $526.8 billion over the five years to 2030.

Other-Long-Term-Liabilities Time Series for Zhejiang Orient Holdings Co Ltd. Zhejiang Orient Financial Holdings Group Co., Ltd. engages in the financial and quasi-financial businesses in the People's Republic of China. The company is involved in trust, futures, fund management, fund investment, financial leasing, and commercial factoring business. It also offers life, health, and accidental injury insurance services, as well as related reinsurance solutions; and asset management, private equity investment fund management, investment consulting, investment management, etc. services. The company was formerly known as Zhejiang Orient Holdings Co., Ltd. Zhejiang Orient Financial Holdings Group Co., Ltd. was founded in 1988 and is headquartered in Hangzhou, the People's Republic of China.

Accumulated-Depreciation Time Series for Shanxi Securities Co Ltd. Shanxi Securities Co., Ltd. operates as a securities company in China. It operates through five segments: Wealth Management Business, Corporate Financial Business, Asset Management Business, FICC Business, and Equity Business. The Wealth Management Business segment is involved in securities brokerage, investment consulting, sales of financial products, margin trading, equity pledge, agreed repurchase, asset allocation, wealth planning, providing custody, and other services for various private equity products. The Corporate Finance Business segment engages in investment banking, asset securitization, public offering REITs, NEEQ, fourth board, enterprise service, and corporate comprehensive services. The Asset Management Business segment offers asset management and public funds, fixed income, and fixed income+ products. The FICC Business segment is involved in fixed income, commodity and currency, and futures businesses. The Equity Business segment engages in equity proprietary trading, derivatives and quantitative investment, research and sales trading, NEEQ innovation investment, private equity investment, and alternative investment. It also provides financial advisory services, including underwriting and sponsoring of RMB common stocks, foreign-invested stocks, and government and corporate bonds; mergers and acquisitions and restructuring; commodity futures brokerage, financial futures brokerage, futures investment consulting, securities brokerage and investment consulting, investment banking, financing, and self-operated investment; and leasing and business services, futures contract trading, stock exchange, lending business, software and IT service, securities and public fund management, and futures brokerage activities. Shanxi Securities Co., Ltd. was incorporated in 1988 and is based in Taiyuan, China.

Total-Long-Term-Liabilities Time Series for Founder Securities Co Ltd. Founder Securities Co., Ltd. engages in the securities business in the People's Republic of China. The company offers wealth management services, including securities brokerage, institutional business, credit business, financial products, futures brokerage, and other businesses. It also provides investment banking services, such as underwriting of equity and bond financing, mergers and acquisitions, recommendation and listing, and financial consultancy and other services. In addition, the company offers asset management services comprising of securities assets and public fund management, private equity investment management, futures asset management, and other businesses. Further, it offers investment and trading services; and research and consulting services for institutional clients. Founder Securities Co., Ltd. was incorporated in 1988 and is based in Changsha, the People's Republic of China.

Return-On-Assets Time Series for Shanxi Securities Co Ltd. Shanxi Securities Co., Ltd. operates as a securities company in China. It operates through five segments: Wealth Management Business, Corporate Financial Business, Asset Management Business, FICC Business, and Equity Business. The Wealth Management Business segment is involved in securities brokerage, investment consulting, sales of financial products, margin trading, equity pledge, agreed repurchase, asset allocation, wealth planning, providing custody, and other services for various private equity products. The Corporate Finance Business segment engages in investment banking, asset securitization, public offering REITs, NEEQ, fourth board, enterprise service, and corporate comprehensive services. The Asset Management Business segment offers asset management and public funds, fixed income, and fixed income+ products. The FICC Business segment is involved in fixed income, commodity and currency, and futures businesses. The Equity Business segment engages in equity proprietary trading, derivatives and quantitative investment, research and sales trading, NEEQ innovation investment, private equity investment, and alternative investment. It also provides financial advisory services, including underwriting and sponsoring of RMB common stocks, foreign-invested stocks, and government and corporate bonds; mergers and acquisitions and restructuring; commodity futures brokerage, financial futures brokerage, futures investment consulting, securities brokerage and investment consulting, investment banking, financing, and self-operated investment; and leasing and business services, futures contract trading, stock exchange, lending business, software and IT service, securities and public fund management, and futures brokerage activities. Shanxi Securities Co., Ltd. was incorporated in 1988 and is based in Taiyuan, China.

Index Time Series for Bitwise Funds Trust - Bitwise Bitcoin Strategy Optimum Roll ETF. The frequency of the observation is daily. Moving average series are also typically included. The fund seeks to achieve its investment objective through managed exposure to bitcoin futures contracts ("bitcoin futures contracts") and investments in U.S. Treasury securities. Under normal market conditions, it will invest at least 80% of its assets in Bitcoin Futures Contracts and U.S. Treasury securities. For purposes of compliance with this investment policy, derivative contracts (such as Bitcoin Futures Contracts) will be valued at their notional value. The fund is non-diversified.