The cryptocurrency exchange Kraken has introduced a new platform customized for institutions, asset managers, hedge funds, and high net-worth individuals. Dubbed Kraken Institutional, this platform consolidates various products and services offered by the exchange to address the needs of institutional clients following the surge in crypto exchange-traded funds (ETFs).

Tim Ogilvie, the Global Head of Institutional at Kraken, mentioned: "Institutional adoption of crypto is growing rapidly, and with the launch of Kraken Institutional, we're poised to grow with this client segment."

"The recent ETF approval has spurred broader institutional demand; with Kraken Institutional, Kraken is pulling together products and services to meet the needs of institutional clients. Like crypto itself, Kraken Institutional is moving fast: expect more to come in the near future."

Meeting Growing Institutional Demand

Kraken Institutional aims to streamline access to the crypto asset class for institutions, promising reliable, scalable, and easily integrable solutions. The new platform encompasses spot trading, over-the-counter trading, and staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term services. The surge in institutional adoption of crypto, catalyzed by the recent approval of spot Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term ETFs, has prompted the exchange to create dedicated solutions tailored to institutional requirements.

Introducing Kraken Institutional, a comprehensive crypto solution that offers institutions all they need to engage in the digital asset-class.

Read Global Head of Institutional @Tim_Ogilvie's blog for more: https://t.co/gKaUMmORRg pic.twitter.com/k6EgIImKv0

— Kraken Pro (@krakenpro) February 27, 2024

Recently, the Securities and Exchange Commission made history by officially approving the first spot Bitcoin ETF in the United States. This approval followed years of anticipation and numerous applications from asset managers seeking to offer investors direct exposure to Bitcoin through traditional financial markets.

Global Interest and Regulatory Dynamics

Last month, reports emerged that Kraken's subsidiary, CF Benchmarks, was engaging with 50 firms seeking its services for spot Bitcoin ETF pricing.

As regulatory frameworks evolve, asset managers and financial institutions are exploring spot Bitcoin ETF pricing to tap into the burgeoning crypto market, Finance Magnates.

CF Benchmarks, already serving major players like BlackRock and Franklin Templeton, has witnessed a significant uptick in interest, with half of the firms in talks based in the US, while others are from Europe and Asia.