The Rise of OTC Trading Platforms for Crypto Assets and the Surge in Institutional Investment
The development of OTC Trading for Crypto Assets ( platform has gone through two important stages. In 2024, the approval of Bitcoin and Ethereum ETFs became a turning point, while regions like the EU and Dubai introduced regulatory frameworks that paved the way for the legal large-scale operation of OTC platforms. By 2025, with the improvement of the policy environment and changes in market sentiment, the institutional asset allocation boom drove a dramatic increase in OTC platform trading volume.
OTC Trading usually directly matches buyers and sellers, providing a single quotation, with no slippage or bidding, and completing transfers through escrow wallets or institutional accounts. This trading method does not affect the public market price and protects the privacy of participants. Although OTC institutions do not disclose specific transaction details, we can trace some clues through blockchain data.
In July 2025, an unprecedented scale of Bitcoin OTC Trading drew market attention. Approximately 80,000 BTC changed hands for $9 billion, while the public market experienced almost no fluctuations. The transaction was orchestrated by Galaxy Digital, a favored encryption OTC Trading firm on Wall Street, which also led to a significant year-on-year increase in its second-quarter revenue.
) the third largest liquidity pillar in the Crypto Assets market
With the rise of institutional investment, OTC Trading platforms have become the "third major liquidity pillar" in the crypto market, following centralized trading platforms ###CEX( and decentralized trading platforms )DEX(. For large amounts of capital, CEX/DEX are difficult to directly accommodate trades in the hundreds of millions without triggering severe volatility; therefore, OTC Trading platforms play the "white glove" role for institutions, completing large position builds or liquidations behind the scenes.
In 2024, the annual OTC Trading volume remained high, with a year-on-year increase of 112.6% in the first half of 2025. This indicates that market participants are increasingly inclined to trade through private channels rather than publicly betting on the market. Crypto Assets are gradually shifting from marginal speculative products to acceptable allocation options in the eyes of institutional investors.
It is noteworthy that the Asian OTC market is also on the rise. Licensed OTC platforms in Hong Kong, emerging platforms in the UAE and Southeast Asia are all attracting large-scale liquidity from around the world. At the same time, some traditional bulk trading market makers have also begun to venture into crypto OTC business, using high-frequency and quantitative strategies to provide bilateral quotes for institutional clients, improving execution efficiency and reducing impact costs.
) The Rise of Galaxy Digital
Among the many OTC players, Galaxy Digital, founded by Mike Novogratz, is undoubtedly a star in this wave of institutional buying frenzy. Galaxy is not only a well-known encryption investment bank but also operates a high-reach OTC Trading business, covering multiple business lines including trading, investment, asset management, consulting, and mining. Its clients include top institutions such as publicly listed companies and hedge funds. The company's main sources of profit are OTC spot trading and investment business.
Epic Bitcoin Trading
In July 2025, Galaxy Digital completed an astonishing OTC Trading transaction of 80,000 bitcoins, valued at up to $9 billion, setting one of the largest single transactions in the history of encryption. This transaction was executed on behalf of an early investor from the "Satoshi Nakamoto era" as part of their estate planning. Surprisingly, such a massive liquidation of bitcoins had almost no impact on the market, fully demonstrating the depth of the current OTC market and the execution capabilities of Galaxy Digital.
)# Institutional buying pressure emerges for Ethereum
In the second quarter of 2025, multiple unusually large buy orders appeared on the Ethereum blockchain, attracting close attention from the community. Since July 9, 14 new wallet addresses have cumulatively purchased 856,554 ETH through OTC Trading, valued at approximately $3.16 billion. These large-scale buying activities are believed to be related to institutional investors such as SharpLink Gaming. Since June 2025, SharpLink has publicly claimed to emulate MicroStrategy's strategy by continuously increasing its holdings of Ethereum as a primary treasury asset.
According to on-chain data analysis, Galaxy Digital has processed a total of $5.444 billion in ETH OTC Trading over the past 90 days, averaging about $1.8 billion per month. This data highlights Galaxy's dominant position in ETH institutional trading.
Institutional Layout on BNB Chain
In the second half of 2025, BNB also took the stage for institutional layout. CEA Industries, a Nasdaq-listed company in the United States (stock code VAPE), announced its transformation into the "BNB Treasury Company" and plans to raise up to $1.25 billion to purchase BNB. This plan is led by David Namdar, co-founder of Galaxy Digital, who will serve as the new CEO of VAPE.
The BNB layout of VAPE marks the official entry of BNB into institutional asset allocation. Due to the highly concentrated issuance and circulation of BNB, OTC Trading or protocol transfers will become key channels to absorb hundreds of millions of dollars in BNB without triggering severe market fluctuations. Galaxy Digital's rich OTC network and liquidity resources are expected to provide strong support for this "BNB version of the MicroStrategy action."
As the Crypto Assets industry moves towards compliance and resources concentrate among leading players, OTC Trading platforms may occupy a more important ecological position in the future as "transparent dark pools." Whether it is a trading platform focusing on custody, trading, and on-chain ecological integration, a comprehensive service provider combining consulting and OTC Trading, or the rapid integration of traditional brokerages and trading platforms, all indicate that the encryption financial infrastructure is maturing. In this new era dominated by compliant institutions, OTC Trading platforms will play an increasingly critical role in connecting traditional finance with the Crypto Assets world.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
18 Likes
Reward
18
5
Repost
Share
Comment
0/400
MoonRocketTeam
· 08-13 08:03
The launch pad ahead is ready. Galaxy's loading is complete and is heading straight for Mars.
View OriginalReply0
liquidation_surfer
· 08-10 10:19
Swing trading people are tough, not many words; if you don't die with full仓, that's the way to go.
View OriginalReply0
PaperHandSister
· 08-10 10:12
Bull coin is just losing to the institutions.
View OriginalReply0
ParanoiaKing
· 08-10 09:58
Hurry up and run, another Large Investor is about to dump.
View OriginalReply0
NightAirdropper
· 08-10 09:53
Rich brother can really play, the little dog cried.
The Rise of OTC Platforms: Galaxy Digital Leads $9 Billion in Bitcoin Large Orders
The Rise of OTC Trading Platforms for Crypto Assets and the Surge in Institutional Investment
The development of OTC Trading for Crypto Assets ( platform has gone through two important stages. In 2024, the approval of Bitcoin and Ethereum ETFs became a turning point, while regions like the EU and Dubai introduced regulatory frameworks that paved the way for the legal large-scale operation of OTC platforms. By 2025, with the improvement of the policy environment and changes in market sentiment, the institutional asset allocation boom drove a dramatic increase in OTC platform trading volume.
OTC Trading usually directly matches buyers and sellers, providing a single quotation, with no slippage or bidding, and completing transfers through escrow wallets or institutional accounts. This trading method does not affect the public market price and protects the privacy of participants. Although OTC institutions do not disclose specific transaction details, we can trace some clues through blockchain data.
In July 2025, an unprecedented scale of Bitcoin OTC Trading drew market attention. Approximately 80,000 BTC changed hands for $9 billion, while the public market experienced almost no fluctuations. The transaction was orchestrated by Galaxy Digital, a favored encryption OTC Trading firm on Wall Street, which also led to a significant year-on-year increase in its second-quarter revenue.
![])https://img-cdn.gateio.im/webp-social/moments-aa66fce2ac79bbe6c175e598fd76be2a.webp(
) the third largest liquidity pillar in the Crypto Assets market
With the rise of institutional investment, OTC Trading platforms have become the "third major liquidity pillar" in the crypto market, following centralized trading platforms ###CEX( and decentralized trading platforms )DEX(. For large amounts of capital, CEX/DEX are difficult to directly accommodate trades in the hundreds of millions without triggering severe volatility; therefore, OTC Trading platforms play the "white glove" role for institutions, completing large position builds or liquidations behind the scenes.
In 2024, the annual OTC Trading volume remained high, with a year-on-year increase of 112.6% in the first half of 2025. This indicates that market participants are increasingly inclined to trade through private channels rather than publicly betting on the market. Crypto Assets are gradually shifting from marginal speculative products to acceptable allocation options in the eyes of institutional investors.
It is noteworthy that the Asian OTC market is also on the rise. Licensed OTC platforms in Hong Kong, emerging platforms in the UAE and Southeast Asia are all attracting large-scale liquidity from around the world. At the same time, some traditional bulk trading market makers have also begun to venture into crypto OTC business, using high-frequency and quantitative strategies to provide bilateral quotes for institutional clients, improving execution efficiency and reducing impact costs.
) The Rise of Galaxy Digital
Among the many OTC players, Galaxy Digital, founded by Mike Novogratz, is undoubtedly a star in this wave of institutional buying frenzy. Galaxy is not only a well-known encryption investment bank but also operates a high-reach OTC Trading business, covering multiple business lines including trading, investment, asset management, consulting, and mining. Its clients include top institutions such as publicly listed companies and hedge funds. The company's main sources of profit are OTC spot trading and investment business.
Epic Bitcoin Trading
In July 2025, Galaxy Digital completed an astonishing OTC Trading transaction of 80,000 bitcoins, valued at up to $9 billion, setting one of the largest single transactions in the history of encryption. This transaction was executed on behalf of an early investor from the "Satoshi Nakamoto era" as part of their estate planning. Surprisingly, such a massive liquidation of bitcoins had almost no impact on the market, fully demonstrating the depth of the current OTC market and the execution capabilities of Galaxy Digital.
![]###https://img-cdn.gateio.im/webp-social/moments-87e2a4b9f9e905eba0c16fa576e5f229.webp(
)# Institutional buying pressure emerges for Ethereum
In the second quarter of 2025, multiple unusually large buy orders appeared on the Ethereum blockchain, attracting close attention from the community. Since July 9, 14 new wallet addresses have cumulatively purchased 856,554 ETH through OTC Trading, valued at approximately $3.16 billion. These large-scale buying activities are believed to be related to institutional investors such as SharpLink Gaming. Since June 2025, SharpLink has publicly claimed to emulate MicroStrategy's strategy by continuously increasing its holdings of Ethereum as a primary treasury asset.
According to on-chain data analysis, Galaxy Digital has processed a total of $5.444 billion in ETH OTC Trading over the past 90 days, averaging about $1.8 billion per month. This data highlights Galaxy's dominant position in ETH institutional trading.
Institutional Layout on BNB Chain
In the second half of 2025, BNB also took the stage for institutional layout. CEA Industries, a Nasdaq-listed company in the United States (stock code VAPE), announced its transformation into the "BNB Treasury Company" and plans to raise up to $1.25 billion to purchase BNB. This plan is led by David Namdar, co-founder of Galaxy Digital, who will serve as the new CEO of VAPE.
The BNB layout of VAPE marks the official entry of BNB into institutional asset allocation. Due to the highly concentrated issuance and circulation of BNB, OTC Trading or protocol transfers will become key channels to absorb hundreds of millions of dollars in BNB without triggering severe market fluctuations. Galaxy Digital's rich OTC network and liquidity resources are expected to provide strong support for this "BNB version of the MicroStrategy action."
As the Crypto Assets industry moves towards compliance and resources concentrate among leading players, OTC Trading platforms may occupy a more important ecological position in the future as "transparent dark pools." Whether it is a trading platform focusing on custody, trading, and on-chain ecological integration, a comprehensive service provider combining consulting and OTC Trading, or the rapid integration of traditional brokerages and trading platforms, all indicate that the encryption financial infrastructure is maturing. In this new era dominated by compliant institutions, OTC Trading platforms will play an increasingly critical role in connecting traditional finance with the Crypto Assets world.
![]###https://img-cdn.gateio.im/webp-social/moments-29971283bfdb7c5c4150cbb031b9256b.webp(