Kraken’s Leap: A Game-Changer For Institutional Crypto Investments
San Francisco-based crypto exchange Kraken has launched Kraken Institutional, a specialized digital currency suite targeting high-net-worth firms and institutional investors.
Headed by Tim Ogilvie, the global leader of the business division, the platform leverages Kraken’s decade-long experience in serving enterprises. Emphasizing deep liquidity, yield opportunities, and low-latency digital asset trading, Kraken Institutional is operational, catering to investment funds, intermediaries, trading entities, asset managers, private investors, and financial advisors.
This move towards institutional clients aligns with the increasing interest in crypto assets, notably spurred by the approval and active trading of several spot bitcoin exchange-traded funds (ETFs) in the U.S. Kraken Institutional now competes with established entities like Anchorage Digital, Coinbase Custody, Fidelity Digital Assets, and Bitgo. Since their debut on January 11, 2024, the newly introduced ETFs have collectively accumulated over 300,000 BTC, with various custodians ensuring their security, including Coinbase for seven out of ten spot bitcoin ETFs and Bitgo for Valkyrie’s BTC holdings.
Clever Robot News Desk 1st March 2024
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