Analysis: Trump's victory drove institutional cryptocurrency OTC trading volume to double last year

According to cryptocurrency OTC infrastructure company Finery Markets, institutional cryptocurrency over-the-counter (OTC) trading volume increased by 106% in 2024, mainly due to Trump’s victory in the U.S. election and interest in U.S. spot cryptocurrency ETFs. demand growth. Finery Markets said the fourth quarter saw the biggest growth last year, with over-the-counter trading volumes for Bitcoin, Ethereum and stablecoins increasing by 80%, 187% and 191% respectively year-on-year, thanks to Trump’s victory and the new administration Pro-crypto stance: “While full regulatory clarity remains to be determined, the Trump administration’s pro-crypto stance significantly drove fourth-quarter crypto spot trading volumes to 2024 highs.” Last year’s second quarter saw a 110% year-over-year increase, which Finery attributed to the “successful” launch of a U.S. spot Bitcoin ETF, while OTC volumes also increased by 80% and 78% in the first and third quarters, respectively. Cryptocurrency OTC trading volumes have continued to grow since 2023, suggesting that market participants are moving toward more private methods of trading rather than using public exchanges. Finery said much of the growth in institutional cryptocurrency OTC volumes stems from more TradFi leaders moving from “skepticism to neutrality or acceptance as the industry matures.” Finery, whose data was obtained by analyzing 4 million spot trades conducted on its platform in 2024 by market makers, payment providers, brokers, OTC desks, hedge funds and custodians. (Cointelegraph)