Brian Armstrong: Institutions make up 60% of trading volume on Coinbase Pro

19 May, 2019
by Richard Allen
Exchange
Brian Armstrong: Institutions make up 60% of trading volume on Coinbase Pro

Coinbase co-founder and CEO Brian Armstrong sat down with Fred Wilson, co-founder of Union Square ventures at Blockchain Week in New York. During the interview, Armstrong revealed institutional investors now make up 60% of all trading volume on Coinbase.

“90% of the money in the world is tied up in institutions, it’s not just retail. So we started to go talk to these potential customers.” Armstrong goes on, explaining they all had a different set of requirements, such as a qualified custodian, which didn’t exist at the time.

“As we’ve gotten going, institutions have become a bigger and bigger part of our business,” Armstrong says. “We’ve started to enable features like OTC trading through Coinbase custody where these large block trades are starting to happen. Institutions have become I think 60% of our trading volume on Coinbase Pro as well."

So these are really key customer segments for us and we’re just going to keep investing more and more in it.”

Other more traditional firms like Fidelity have begun entering the market with plans to start Bitcoin trading for institutional investors. Additionally, Bakkt is set to launch in July with the aim of serving institutional investors while being fully regulated by the Commodities Futures Trading Commission, presenting some stiff competition for Coinbase.

  

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