Institutional demand for crypto OTC services and other enterprise offerings has surged alongside digital asset prices and the arrival of Wall Street.

According to Finery Markets, institutional over-the-counter (OTC) spot transaction volume jumped by around 95% year-over-uear in the first six months of 2024. The data was analyzed from over two million trades executed via brokers, OTC desks, and hedge funds, among others.

Massive growth was noted during this year’s second quarter. Volume increased 110% year-on-year (YoY) in Q2 and peaked at 158% in April. 

Bitcoin rally spurred Institutional crypto interest

At the time, spot Bitcoin (BTC) ETFs had traded for over three months, and Bitcoin had raced to a new all-time high in March. Speculation around spot Ethereum (ETH) ETFs …