According to a report from Bitget in collaboration with blockchain analytics platform Nansen, Singapore-based crypto exchange Bitget has seen an increase in institutional participation, with institutional traders now accounting for around 80% of total volume in September.
The report notes that institutional activity on Bitget’s spot markets increased from 39.4% of total volume on January 1 to 72.6% as of July 30. Futures trading saw an even more dramatic shift, with institutional market makers increasing from just 3% of activity at the start of 2025 to 56.6% at the end of July.
THE study identified liquidity as the key metric of institutional crypto adoption, noting that Bitget’s order book depth, spreads and execution quality now match peers such as Binance and OKX on major trading pairs.
In financial markets, liquidity refers to the speed and ease with which an asset can be traded without causing a significant change in its price.
Laser Digital and Fenbushi Capital dominated institutional flows on Bitget, accounting for the majority of positive net flows to the exchange, according to on-chain data from Nansen.
During the first half of the year, Bitget averaged about $750 billion in monthly trading volume, with derivatives accounting for about 90%. According to the report, institutions account for about half of derivatives activity.
In comparison, Binance, the world’s largest centralized crypto exchange, saw its spot trading volume climb to $698.3. billion in July, up from $432.6 billion in June, a 61% month-over-month increase, according to Coingecko data.
Related: Binance Wallet Partners with Bubblemaps to Help Combat Insider Crypto Trading
Stock exchanges are aimed at institutional investors
As institutional adoption of crypto has increased throughout 2025, crypto exchanges are competing for market share in a variety of ways.
In January, Crypto.com announced a institutional trading platform offering over 300 trading pairs and supporting advanced trading strategies tailored to institutional investors, signaling the company’s deeper progression on Wall Street.
In September, Binance unveiled a crypto-as-a-service platform for licensed banks, exchanges and brokerages, giving traditional financial institutions direct access to its liquidity, futures and custody infrastructures.
OKX announced in October a partnership with Standard Chartered to launch a collateral mirroring program in the European Economic Area, allowing institutional clients to store their crypto assets directly with Standard Chartered’s custody arm.
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