Kraken, one of the largest cryptocurrency exchanges, has introduced a new platform called Kraken Institutional targeting institutional crypto adoption. The platform provides various services and products for institutions such as asset managers, hedge funds, and high-net-worth individuals.
The recent surge in interest after the approval of Bitcoin exchange-traded funds (ETFs) prompted Kraken to create tailored solutions for institutional crypto investors.
“Institutional adoption of crypto is growing rapidly, and with Kraken Institutional, we’re poised to grow with this client segment,” said Tim Ogilvie, Kraken’s Global Head of Institutional.
He added that the platform promises reliable, scalable, and easily integrated services, including spot trading, over-the-counter trading, and staking.
Reports last month revealed Kraken’s subsidiary, CF Benchmarks, was working with 50 firms for Bitcoin ETF pricing, indicating strong institutional demand.
Kraken is vying for market share against Coinbase, which currently serves as custodian for most of the newly approved spot Bitcoin ETFs.
By tailoring solutions to institutional investors, Kraken Institutional cements the exchange’s position in the burgeoning crypto asset class.
Also Read: Kraken Joins Other Exchanges in Fight Against SEC Lawsuit
