Everyone wants a piece of the brand new, juicy bitcoin spot ETF pie. Even US bankers are currently begging the SEC to allow them to offer custody of the BTCs involved. The Kraken platform is also keen to get in on the action. It has announced the launch of a new brand, Kraken Institutional, designed to offer the services and products of its exchange to "institutional investors, asset managers, hedge funds and high net worth individuals."
The arrival in force of bitcoin spot ETFs is capturing everyone's attention. These financial vehicles, with their billions of dollars in daily volumes, are transforming the cryptocurrency sector. Kraken, despite a backdrop of regulatory pressure and a power struggle with the SEC, is seeking to attract institutional investors fascinated by bitcoin. "Institutional adoption of cryptocurrencies is growing rapidly. With the launch of Kraken Institutional, we aim to grow with this client segment." - Tim Ogilvie
To charm institutional investors, Kraken has launched Kraken Institutional, led by Tim Ogilvie, former co-founder of Staked, acquired by Kraken in 2021. "Kraken Institutional will serve as a single point of contact for reliable, scalable and easy-to-integrate solutions for institutions seeking exposure to crypto-assets." This structure brings together the products and services already offered by Kraken to institutions, including spot trading, OTC trading and staking, to "meet the needs of institutional clients."
As part of this dynamic, Kraken Institutional is already planning new developments. The institutional fever currently gripping the cryptocurrency sector shows no signs of abating, with players such as Ripple aspiring to launch their own ETFs and conquer Wall Street, illustrating a trend where Wall Street seems to be rather engulfing the crypto sector.
