BlockFi, a crypto-related wealth management platform, has launched its own over-the-counter (OTC) trading desk for institutional and ultra-high net worth investors. According to an announcement, traders of the OTC desk will be located in the US and Asia with 24/7 support and BlockFi itself will act as an execution partner.
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BlockFi will allow its clients to trade with the desk the following assets: bitcoin (EXANTE: Bitcoin), ether (ETH), litecoin (LTC) and others. BlockFi CEO and Co-Founder, Zac Prince, says institutional clients are "already using many of these BlockFi services independently, and have noted the benefits of having a one-stop destination for their digital asset trading and financing needs."
"With institutional interest in digital assets growing rapidly, we are proud to offer a specialized product to meet their needs and help them participate in an exciting and growing asset class," he added.
Earlier, iHodl reported that JPMorgan's strategists believe the adoption of bitcoin by institutional investors has already begun. The US financial banking giant notes that gold might suffer in the long-term if bitcoin continues to evolve on the traditional financial market.
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