Volumes surged 95% year-over-year in H1 2024, driven by ETF approvals.
According to Finery Markets report, ethereum trading volumes increased by 32%, with further growth expected.
The
over-the-counter (OTC) institutional cryptocurrency market experienced a
significant uptick in the first half of 2024, with total spot transaction
volumes soaring 95% year-over-year.
Institutional Crypto
Trading Surges in First Half of 2024, Report Finds
According
to a new report from Finery Markets, which analyzed two million spot trades
conducted by institutions, the appetite for digital assets among institutional
investors grew significantly. This surge in activity follows recent approvals
for crypto-related investment vehicles, including the successful launch
of a Bitcoin ETF.
Ethereum,
the second-largest cryptocurrency by market capitalization, saw its trading
volumes rise by 32% in the first half of 2024 compared to the same period in
2023. The potential approval of Ethereum ETFs is expected to further drive
institutional participation in the market.
“The
recent approval of crypto-related vehicles has sparked institutional interest
in adopting crypto for the long term,” Finery
Markets commented in the report. “However, we believe that the full
impact of ETF approvals on the market may not be fully realized until six to
nine months later.”
The report
also highlights a shift in trading patterns, with crypto-to-crypto trades
demonstrating a 50% year-over-year growth. In contrast, crypto-to-fiat pairs
decreased by 12% in the first six months of 2024. Notably, transactions
involving stablecoins across all blockchains and layers surged 2.6 times
year-over-year.
Experts
have acknowledged for several months that without the support of institutional
investors, the volumes and prices of Bitcoin would not have increased as
significantly. For
instance, the cryptocurrency market experienced a substantial surge in
value, growing from $1 trillion to $2.5 trillion from October 2023 to March
2024.
Altcoins on the Rise
While
Bitcoin and Ethereum continue to dominate the space, the report indicates
varying growth rates among altcoins. Tron (TRX) experienced the most
significant surge, with a 202% year-over-year increase, followed by Binance
Coin (BNB) at 129% and Litecoin (LTC) at 80%. However, Ripple (XRP) bucked the
trend with an 18% decline.
“The growth
rates seen in altcoins can largely be attributed to a low base effect resulting
from a downturn in the first half of 2023, which was caused by the collapse of
FTX and its subsequent impact on the cryptocurrency market until the first half
of 2024,” Finery Markets added.
Source: Finery Markets
The
cryptocurrency market's growth accelerated in the second quarter of 2024,
achieving a 110% year-over-year increase in customer transaction volumes, up
from 80% in the first quarter. April saw the peak growth rate at 158%
year-over-year, following a 56% increase in January.
Despite the
overall positive trend, institutional participation in altcoins remained
relatively low, with the top five alternative cryptocurrencies accounting for
just 5.4% of the total trading volume.
The report
suggests that the changing regulatory environment is becoming more favorable
towards digital assets, providing traditional financial institutions with a
clear path to enter the crypto space using established financial instruments.
Finery Markets
is the first crypto ECN to receive the SOC 2 Type 1 certification. Earlier this
year, Finery Markets established
a collaboration with Hidden Road. This partnership is characterized by
incorporating Finery Markets’ leading product, FM Liquidity Match, into Hidden
Road’s activities, which primarily involve prime brokerage services for crypto
spot transactions.
The
over-the-counter (OTC) institutional cryptocurrency market experienced a
significant uptick in the first half of 2024, with total spot transaction
volumes soaring 95% year-over-year.
Institutional Crypto
Trading Surges in First Half of 2024, Report Finds
According
to a new report from Finery Markets, which analyzed two million spot trades
conducted by institutions, the appetite for digital assets among institutional
investors grew significantly. This surge in activity follows recent approvals
for crypto-related investment vehicles, including the successful launch
of a Bitcoin ETF.
Ethereum,
the second-largest cryptocurrency by market capitalization, saw its trading
volumes rise by 32% in the first half of 2024 compared to the same period in
2023. The potential approval of Ethereum ETFs is expected to further drive
institutional participation in the market.
“The
recent approval of crypto-related vehicles has sparked institutional interest
in adopting crypto for the long term,” Finery
Markets commented in the report. “However, we believe that the full
impact of ETF approvals on the market may not be fully realized until six to
nine months later.”
The report
also highlights a shift in trading patterns, with crypto-to-crypto trades
demonstrating a 50% year-over-year growth. In contrast, crypto-to-fiat pairs
decreased by 12% in the first six months of 2024. Notably, transactions
involving stablecoins across all blockchains and layers surged 2.6 times
year-over-year.
Experts
have acknowledged for several months that without the support of institutional
investors, the volumes and prices of Bitcoin would not have increased as
significantly. For
instance, the cryptocurrency market experienced a substantial surge in
value, growing from $1 trillion to $2.5 trillion from October 2023 to March
2024.
Altcoins on the Rise
While
Bitcoin and Ethereum continue to dominate the space, the report indicates
varying growth rates among altcoins. Tron (TRX) experienced the most
significant surge, with a 202% year-over-year increase, followed by Binance
Coin (BNB) at 129% and Litecoin (LTC) at 80%. However, Ripple (XRP) bucked the
trend with an 18% decline.
“The growth
rates seen in altcoins can largely be attributed to a low base effect resulting
from a downturn in the first half of 2023, which was caused by the collapse of
FTX and its subsequent impact on the cryptocurrency market until the first half
of 2024,” Finery Markets added.
Source: Finery Markets
The
cryptocurrency market's growth accelerated in the second quarter of 2024,
achieving a 110% year-over-year increase in customer transaction volumes, up
from 80% in the first quarter. April saw the peak growth rate at 158%
year-over-year, following a 56% increase in January.
Despite the
overall positive trend, institutional participation in altcoins remained
relatively low, with the top five alternative cryptocurrencies accounting for
just 5.4% of the total trading volume.
The report
suggests that the changing regulatory environment is becoming more favorable
towards digital assets, providing traditional financial institutions with a
clear path to enter the crypto space using established financial instruments.
Finery Markets
is the first crypto ECN to receive the SOC 2 Type 1 certification. Earlier this
year, Finery Markets established
a collaboration with Hidden Road. This partnership is characterized by
incorporating Finery Markets’ leading product, FM Liquidity Match, into Hidden
Road’s activities, which primarily involve prime brokerage services for crypto
spot transactions.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Deutsche Börse’s 360T Plugs Bitpanda Into FX Network to Channel Institutions Into Crypto
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
