Kraken, a San Francisco-based cryptocurrency exchange, has debuted Kraken Institutional, a digital currency suite created specifically for institutional investors and high-net-worth businesses.
Elite Clients Can Expect Deep Liquidity and Low-Latency Trading from Kraken Institutional
Introduced by Tim Ogilvie, the global head of the business division, Kraken Institutional is a new cryptocurrency solution that builds on the company’s ten years of experience serving businesses. The platform is expected to offer low-latency digital asset trading, substantial liquidity, and yield potential.
The team lead reports that Kraken Institutional, which targets investment funds, intermediaries, trading firms, asset managers, private investors, and financial advisors, is currently functioning. Through the social networking platform X, Ogilvie proclaimed, “Kraken Institutional is open for business.”
The move to institutional clients is in line with these entities’ increasing interest in cryptocurrency assets. Notably, there has been a significant surge in trading activity and capital inflows following the widespread acceptance of multiple spot bitcoin exchange-traded funds (ETFs) in the United States. Kraken Institutional will face competition from already-existing companies like Bitgo, Fidelity Digital Assets, Coinbase Custody, and Anchorage Digital.
Furthermore, the nine recently launched ETFs have amassed over 300,000 BTC in total since its launch on January 11, 2024, all of which are being held by different custodians. The institutional division of Coinbase is in charge of seven of the ten spot bitcoin ETFs, including GBTC from Grayscale. Vaneck depends on Gemini for custody, Fidelity manages its ETF funds, and Bitgo was just given custody of Valkyrie’s Bitcoin assets.
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