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OTC Crypto Spot Transaction Volume Surges 95% in H1 2024, Driven by Institutional Interest

July 17, 2024 | Finery Markets

The over-the-counter (OTC) institutional cryptocurrency market saw a dramatic increase in spot transaction volume in the first half of 2024. A recent report by Finery Markets reveals a 95% year-over-year growth, highlighting a significant rise in institutional engagement.

Institutional Interest Drives Massive Growth in Crypto’s Over-the-Counter Industry

The Finery Markets team analyzed data from two million spot trades conducted by institutions in the first half of 2024, compared to the same period in 2023. This strong growth is attributed to several factors, including the approval of spot bitcoin (BTC) exchange-traded funds (ETFs) and increased institutional participation in cryptocurrency markets. Just recently, Bitcoin.com News reported that institutional liquidity providers and OTC desks absorbed 88% of Germany’s BTC sales.

See more: bitcoin.com