Diar: institutional cryptocurrency traders migrated to over-the-counter markets

If in 2017 trading volumes of bitcoin on Coinbase and GBTC shares at OTC Markets were almost equal, this year Coinbase professional platform significantly surpassed the dynamics of Bitcoin fund from Grayscale Investments, the new Diar report says.

For your read:

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– Diar (@DiarNewsletter) December 17, 2018

So, analysts estimate that during the OTC Markets trading session (31% of trading hours per year), bitcoin trading volumes on Coinbase increased by 20%, while GBTC showed a decline of 35% compared to last year.

Nevertheless, this did not prevent Bitcoin Investment Trust from attracting a record $ 330 million in nine months, of which $ 216 million was sent to a bitcoin fund. Despite the decline in trading volumes, Grayscale Investments can currently control 1% of the total Bitcoin emissions in the amount of 200,000 BTC.

Note that many cryptocurrency trading platforms for digital assets have begun to offer OTC services. The CEO of the HodlHodl Peer Exchange, Max Kaydun, said that the over-the-counter volume of Bitcoin trading in 2018 doubled almost monthly.

Recall that in 2016, Coinbase allocated GDAX to a separate platform for professional trading, and in June of this year its rebranding took place at Coinbase Pro.

This summer, Coinbase Custody also became available to institutional investors with a minimum investment threshold of $ 10 million.

In November, representatives of the exchange confirmed their intention to launch the OTC platform and integrate it with Coinbase Custody.

We add that among the former employees of Coinbase there is an analogue of the PayPal mafia.

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