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Kraken launches institutional arm aiming to cash in on Bitcoin ETFs
The crypto exchange launched a new institutional-focused brand, angling for more clients after the U.S. approved spot Bitcoin ETFs. Crypto exchange Kraken has launched a new division to offer dedicated services to institutions as it angles for a piece of the spot Bitcoin exchange-traded fund (ETF) pie. Kraken announced its new institutional brand on Feb. 27 that folds in its existing institutional offerings of spot and over-the-counter trading along with crypto staking — for those outside the United States — and is aiming it toward asset managers, hedge funds and high-net-worth individuals. Staked co-founder Tim Ogilvie, who joined Kraken when it acquired his firm in December 2021, will head Kraken Institutional and said in a statement that “institutional adoption of crypto is growing rapidly.” “The recent ETF approval has spurred broader institutional demand,” Ogilvie added. Source - Coin Telegraph
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