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 Bitcoin (BTC) 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 at 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.”
