Crypto OTC Volumes Soar More Than 100% in 2024, Driven by Trump Victory and Institutional Demand: report

Gold Finance reports that the cryptocurrency over-the-counter (OTC) market matured significantly last year, growing at an annualized rate of 106%, according to Finery Markets' 2024 Year in Review report. The report highlights that it was a dynamic year for institutional and large-scale digital asset trading, driven by key macroeconomic and industry-specific developments, which included events such as the launch of bitcoin and ethereum exchange-traded funds, the pro-cryptocurrency Donald Trump victory, and the continued institutionalization of digital assets. OTC trading refers to over-the-counter (OTC) transactions conducted directly between buyers and sellers, usually facilitated by brokers or trading desks. This method allows institutions and high-net-worth individuals to make large trades with minimal market impact. “As the industry matures and the stance of traditional financial leaders shifts from skepticism to neutrality or acceptance, institutions are either entering the cryptocurrency market or planning acquisitions to build”, the analysts wrote.