"Virtual Asset OTC Market Grew 106% Last Year... Impact of Trump's Election and Institutional Demand"
Summary
- The virtual asset OTC market grew 106% last year due to the interest of major institutions and political changes.
- The listing of Bitcoin and Ethereum ETFs and Trump's election as president were cited as major growth factors.
- Institutions are planning acquisitions to enter the virtual asset market, indicating the industry's maturation.
On the 13th (local time), the cryptocurrency specialized media The Block reported, citing the Binary Market report, that last year's virtual asset over-the-counter (OTC) market recorded an annual growth rate of 106% thanks to the interest of major institutions and macroeconomic and political changes.
In particular, the OTC trading volume in the fourth quarter increased by 177% compared to the previous year.
The report stated, "The listing of Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), the election of virtual asset supporter Donald Trump as president, and the continuous institutionalization of virtual assets were major factors."
It also explained, "As the industry enters a mature stage, traditional financial leaders are shifting from a skeptical stance to a neutral or accepting stage," adding, "Institutions are planning acquisitions to enter or establish their position in the virtual asset market."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
