In 2024, institutional crypto over-the-counter (OTC) trading volumes surged by 106%, largely driven by Donald Trump’s US election victory and the rising demand for US spot crypto exchange-traded funds. According to Finery Markets, the fourth quarter experienced significant increases with Bitcoin, Ether, and stablecoin OTC trading volumes spiking by 80%, 187%, and 191% year-on-year, respectively. This growth reflects a shift in traditional financial institutions from skepticism to neutrality or acceptance as the crypto industry matures. The data was collected from 4 million spot trades on Finery’s platform, signifying a persistent rise in OTC trading activity without any monthly declines from the previous year. Additionally, altcoins saw increasing market share, rising from 13% in 2023 to 29%. Looking ahead to 2025, increased liquidity challenges could arise for tier 2 and tier 3 centralized exchanges, prompting a potential acceleration in institutional adoption under a pro-crypto administration.

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