Data: Institutional investors' crypto spot trading volume increased by 95% year-on-year in the first half of the year

According to a recent report by Finery Markets, the institutional cryptocurrency market experienced significant growth in the first half of 2024, with a year-on-year surge of 95% in spot trading volume. The report pointed out that the first half of 2024 was a key period for institutions to adopt cryptocurrencies. Bitcoin ETFs have been launched in Australia, the United States, and Hong Kong. The application of VanEck's Solana ETF highlights the increasing trend of diversification of cryptocurrency investment tools. In addition, despite the low institutional participation, some altcoins (such as TRX and BNB) have shown significant growth, with year-on-year increases in spot trading volume of 202% and 129%, respectively. In contrast, Ripple (XRP) has declined by 18% year-on-year.