Cryptocurrency

Bitcoin ETF

Bitcoin

Cryptocurrency exchange Kraken has set its sights on a slice of the Bitcoin ETF market with the launch of a dedicated division aimed at institutions. 
The move comes in the wake of growing institutional interest in cryptocurrency, boosted in part by the recent approval of Bitcoin ETFs. 
The new institutional brand, unveiled by Kraken on February 27, consolidates its existing institutional services, including spot and over-the-counter trading, as well as crypto staking for non-U.S. clients. With a focus on asset managers, hedge funds, and high net-worth individuals, Kraken Institutional aims to capitalize on the institutional adoption of crypto assets. 
Tim Ogilvie, co-founder of Staked and now head of Kraken Institutional following its acquisition by Kraken in December 2021, emphasized the rapid growth of institutional interest in crypto. He noted that the approval of Bitcoin ETFs has further fueled this trend, with the new ETFs witnessing significant inflows since their launch in January, according to Cointelegraph. 
While Grayscale’s ETF has experienced outflows, other funds, including those offered by BlackRock and Fidelity, have attracted substantial investments. 
Coinbase, serving as custodian for eight of the newly launched Bitcoin ETFs, stands to benefit from this trend, with analysts predicting strong earnings ahead for the platform. 
Kraken’s entry into the institutional market puts it in direct competition with established players like Coinbase and Binance. Offering a “qualified custody” service backed by Kraken Financial, a Wyoming-chartered institution, Kraken Institutional aims to provide secure storage solutions for institutional investors seeking exposure to digital assets. 
With Coinbase Institutional and Binance Institutional already catering to institutional clients, Kraken’s move signals its ambition to carve out a niche in this rapidly evolving landscape. 
As institutional demand for crypto assets continues to grow, competition among service providers is expected to intensify, driving innovation and expanding access to digital asset markets for investors worldwide. 
The post <a rel="nofollow" href="https://www.unlock-bc.com/kraken-leaps-into-bitcoin-etf-market-targets-institutional-investors/">Kraken Leaps Into Bitcoin ETF Market, Targets Institutional Investors</a> appeared first on <a rel="nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

Kraken Leaps Into Bitcoin ETF Market, Targets Institutional Investors

UNLOCK_ENG

2024년 2월 28일에 게재된 다른 기사

Bitcoin tops $63k – Reasons, analysis, and expectations

RBC (RY) Reports $2.85 Adjusted EPS in Fiscal Q1

Dogwifhat Price Prediction: WIF Soars 43% As A New Grumpy, Frog-Themed Competitor Takes On Pepe (...

Uniswap and Decentraland poised for gains, investors examining Meme Moguls meme coin

Australia imposes travel ban on ex-Blockchain Group director after ACX Exchange collapse

Pepe Price Prediction: PEPE Soars 32% To Leave Meme Coin Competitors SHIB, WIF And FOKI In The Du...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!