The cryptocurrency exchange Kraken has introduced a new platform customized for institutions, asset managers, hedge funds, and high net-worth individuals. Kraken Institutional consolidates various products and services offered by the exchange to address the needs of institutional clients following the surge in crypto exchange-traded funds (ETFs).

Tim Ogilvie, the Global Head of Institutional at Kraken, mentioned: "Institutional adoption of crypto is growing rapidly, and with the launch of Kraken Institutional, we're poised to grow with this client segment."

"The recent ETF approval has spurred broader institutional demand; with Kraken Institutional, Kraken is pulling together products and services to meet the needs of institutional clients. Like crypto itself, Kraken Institutional is moving fast: expect more to come in the near future."

Meeting Growing Institutional Demand

Kraken Institutional aims to streamline access to the crypto asset class for institutions, promising reliable, scalable, and easily integrable solutions. The new platform encompasses spot trading, over-the-counter trading, and staking services.The surge in institutional adoption of crypto, catalyzed by the recent approval of spot Bitcoin ETFs, has prompted the exchnage to create a dedicated solutions tailored to institutional requirements.