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New York-based crypto exchange Coinbase reported revenue in the amount of $708 million in the second quarter of 2023, despite the regulatory issues it's faced in recent months, boosted by a custody deal with Blackrock and institutional focus.The exchange said Q2 net revenue reached $663 million, down 10% versus the
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However, in terms of product volumes, ProShares' Bitcoin Strategy ETF (BITO) dominated volumes with $179 million in average daily volumes, an increase of 2.96% from June. Grayscale’s bitcoin (BTC) and ether (ETH) trust products followed, with an average daily volume of $83.0 and $31.0 million a 29.7% and 60.4% increase,
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Open interest in standard bitcoin futures contracts averaged a record 14,800 contracts through the first half, a 15% rise compared to 2022. Meanwhile, open interest in bitcoin options averaged a record 9,400 contracts, confirming an impressive 175% rise versus 2022. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to Ark Invest’s Bitcoin Monthly report for June 2023, there has been a significant increase in bitcoin (BTC) stored on over-the-counter (OTC) trading desks. This suggests that institutional investors are more interested in buying the
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With the Bitcoin (BTC) halving event less than a year away, several financial giants have filed applications for a spot Bitcoin exchange-traded fund (ETF) — a scenario last seen before the 2020 to 2021 bull run. Institutional interest in the sector dried up after major crypto giants such as FTX collapsed
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A recent survey conducted by Binance Research and Binance VIP & Institutional provides insights into the thoughts and preferences of institutional investors in the cryptocurrency market. The Institutional Crypto Outlook Survey gathered responses from 208 Binance institutional
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63.5% of respondents said they are positive on the outlook of crypto for the next year and 88% said they are optimistic for the next decade, according to a recent survey by the exchange. Source
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"The current institutional interest we are witnessing is far from the opportunistic FOMO [fear of missing out] we have seen in the past that can push prices up in the short term," Kerbage wrote. "These institutions move slowly and deliberately and invest for the long term—once they are in, they
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Paris-based crypto security company, Ledger, has announced its foray into the institutional trading domain with the launch of Tradelink, a trading network aimed at facilitating custodial trading through specific exchange and custodial partners. Ledger, a crypto-security firm
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Binance faced more regulatory challenges worldwide, particularly in the UK and Belgium, which increased the scrutiny on the exchange. Despite the ongoing regulatory issues in the crypto industry, there was a significant increase in institutional adoption of cryptocurrencies during the week as Mastercard and J.P. Morgan expanded their involvement in
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