- The desk will operate in the U.S. and Asia and support spot trading of digital assets including Bitcoin, Ethereum and Litecoin
BlockFi announced the launch of their over-the-counter (OTC) trading desk, which is available to institutional and ultra-high net worth cryptocurrency investors, Wednesday.
The service will operate with desks in the U.S. and Asia and will support spot trading in cryptocurrencies including Bitcoin, Ethereum and Litecoin.
“With institutional interest in digital assets growing rapidly, we’re proud to offer a specialized product to meet their needs and help them participate in an exciting and growing asset class,” said Zac Prince, co-founder and CEO of BlockFi, in a recent press release.
The announcement comes amid a slew of recent moves by Wall Street investors into crypto. Hedge fund manager Paul Tudor Jones said he would be buying Bitcoin as a hedge against inflation last May. BlackRock, the world’s largest asset manager, announced yesterday that they may soon be offering crypto futures contracts.
Cryptocurrency funds have swelled in recent months with $359 million in inflows last week alone, showing investor interest in digital assets is at an all-time high.