Institutional crypto trading hits a record 72% as Wall Street calms crypto's wild swings
Institutional investors now account for a record 72% of spot trading volume on major OTC desks, signaling a shift toward more stable, long-term market participation. This trend has contributed to reduced market volatility and a more selective focus on a smaller group of high-conviction assets.
Why it matters
The professionalization of crypto markets suggests the asset class is maturing, potentially reducing the extreme volatility that has historically deterred mainstream financial adoption.
According to the firm's latest market report, institutions accounted for roughly 72% of spot trading volume on its over-the-counter (OTC) desk during the first half of 2026, the highest share on record and a sharp increase from about 61% in the second half of last year.
"As crypto works through a bear market, with retail largely absent and preoccupied with equities, the structure underneath is easier to see," the report said. "The asset class is maturing, whatever recent price action suggests."
Rather than chasing short-term price swings, institutional investors tend to operate under defined mandates and risk limits, holding positions over longer periods. The result, the report said, is a market with lower volatility and liquidity concentrated in a smaller group of assets.
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