Cryptocurrency exchange Kraken launches a new platform tailored for institutions, asset managers, hedge funds and high net worth individuals。Called Kraken Institutional, the platform integrates the various products and services offered by the exchange to meet the needs of institutional clients following the proliferation of cryptocurrency exchange-traded funds (ETFs).。

Tim Ogilvie, global head of institutions at Kraken, said: "The adoption of cryptocurrencies by institutions is growing rapidly, and with the launch of the Kraken Institutional, we are ready to grow with this customer base.。"

"Recent ETF approvals have spurred broader institutional demand, and with the launch of the Kraken Institutional, Kraken is consolidating products and services to meet the needs of institutional clients."。Like the cryptocurrency itself, the Kraken Institute is growing fast: expect more products and services in the near future。"

Meeting growing institutional needs

The goal of Kraken Institutional is to simplify the process for institutions entering the crypto asset class, providing a reliable, scalable and easily integrated solution。The new platform includes spot trading, over-the-counter trading and pegging services.。The surge in institutional adoption of cryptocurrencies, driven by the recent spot approval of Bitcoin ETFs, has prompted the exchange to tailor dedicated solutions to institutional needs.。

Recently, the U.S. Securities and Exchange Commission (SEC) officially approved the first spot Bitcoin ETF in the United States, making history.。Prior to this, investors have been waiting for years, and asset managers have also filed a large number of applications, hoping to provide investors with direct investment opportunities in Bitcoin through the traditional financial market.。

Global Trends and Regulatory Dynamics

Last month, it was reported that CF Benchmarks, a unit of Kraken, was in contact with 50 companies seeking spot pricing services for Bitcoin ETFs.。

As the regulatory framework evolves, asset managers and financial institutions are exploring Bitcoin ETF spot pricing to gain access to the booming cryptocurrency market.。

CF Benchmarks, which already serves major companies such as BlackRock and Franklin Templeton, has seen a marked increase in interest, with half of the companies in talks based in the US and the others from Europe and Asia.。