Institutional Crypto Spot Trading Soars 95% in H1, Led by Spot ETF Listings

IconCryptoNewsTerminal Staff22 Jul, 2024

cryptonews.jpg

Institutional Crypto Spot Trading Soars 95% in H1, Led by Spot ETF Listings

Institutions are embracing cryptocurrency spot trading, with volumes surging 95% in the first half of 2023 compared to the same period last year. This growth is attributed to the listing of Bitcoin spot exchange-traded funds (ETFs) in major markets like the US, Australia, and Hong Kong. As cryptocurrency regulations mature globally, institutional investors are increasingly entering the market. Ethereum (ETH) trading volume also saw a significant 32% increase among institutional investors. The launch of an ETH spot ETF is expected to further boost trading volume. Altcoins like Tron (TRX) and Binance Coin (BNB) also experienced notable growth in trading volumes during this period. These altcoins have gained popularity among institutional investors due to their strong fundamentals and ecosystem. The increase in institutional participation in cryptocurrency spot trading indicates growing confidence and adoption of digital assets by traditional financial institutions.

Related News