Wintermute, a crypto trading firm and market maker, saw a 240% yearly growth in traditional finance firms’ activity on its OTC trading desk. Traditional financial institutions played a key role in reshaping OTC trading in 2024, driven by improved regulatory clarity and evolving policy frameworks. The surge in trading volumes from institutional players was driven by their increasing demand for off-exchange liquidity and preference for discreet trades. Retail brokers also experienced a 549% growth rate, reflecting broader institutional interest. The focus on memecoins and currency networks saw a shift in preferred assets, with memecoins recording a 210% growth. Traditional financial institutions solidifying their presence in the OTC market put pressure on crypto-native firms, leading to declining market shares for the latter.

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