Institutional Investors Contributing a lot in Coinbase Pro
Coinbase CEO, Brian Armstrong, has revealed that institutional investment accounts for 60% of trading on its professional trading platform, Coinbase Pro.
“90% of the money in the world is tied up in institutions, it’s not just retail. So we started talking to these potential customers.”
He doesn’t specify what time period he is referring to, but it would have probably been late 2017, early 2018, when Coinbase announced their aim to serve institutional investors.
“As we’ve gotten going, institutions have become a bigger and bigger part of our business,” Armstrong said before adding:
“We’ve started adding features like OTC trading through Coinbase custody where these large block trades are starting to happen. And institutions have become I think 60% of our trading volumes on Coinbase Pro as well.”
Armstrong thinks that the institutional investors are “key customer segments for us and we’re just going to keep investing more and more in it.”
Earlier, there was information that the interest to BTC became higher among high profile investors. This is reflected in the fact that the amount of funds under the management of Grayscale Bitcoin Trust (GBTC) has reached $1,42 billion.