Boerse Stuttgart’s Cryptocurrency Trading Business Sees Explosive Growth
Germany’s Leading Stock Exchange Sees Crypto Trading Revenue Surge
Boerse Stuttgart, one of Germany’s leading stock exchanges, has witnessed a significant surge in its cryptocurrency trading business, accounting for approximately 25% of its overall revenue.
Record-Breaking Performance in 2024
According to a press release from the exchange group at the end of last year, the cryptocurrency trading volume “almost tripled” in 2024 to record its best performance ever. In custody, Boerse Stuttgart had around €4.3 billion ($4.45 billion) in cryptocurrency assets.
Spot ETF Mania and the Rise of Cryptocurrency Trading
The relative success of the exchange’s crypto business comes alongside a backdrop of spot ETF mania in the United States, which saw inflows of $36.2 billion in 2024.
Bitcoin Dominates Cryptocurrency Revenue
Bitcoin accounted for nearly 50% of the exchange’s cryptocurrency revenue, according to the firm’s CEO Matthias Voelkel, who told Agence France-Presse (AFP) that the exchange has been spending the last five years growing its cryptocurrency trading platform.
Attracting a Diverse Client Base
The exchange’s focus on attracting both professional and retail investors within the German-speaking world has seemingly proven fruitful, with the platform now managing to attract over one million cryptocurrency trading clients.
CEO’s Investment in Bitcoin
Voelkel himself invested in bitcoin after considering the benefits of the blockchain technology underpinning the cryptocurrency and over a belief that its popularity will keep on growing.
Services and Partnerships
Boerse Stuttgart offers services through its digital exchange as well as the retail-focused trading app BISON. Last year, it launched a fully insured cryptocurrency staking service on the BISON app through a partnership with German insurance giant Munich Re and staking provider Staking Facilities.
CoinDesk Reaches Out for Comment
CoinDesk reached out to Boerse Stuttgart but did not hear back before press time.
Conclusion
Boerse Stuttgart’s cryptocurrency trading business has experienced explosive growth, accounting for 25% of its overall revenue. The exchange’s focus on attracting a diverse client base, including both professional and retail investors, has proven successful, with over one million cryptocurrency trading clients now on board. As the cryptocurrency market continues to evolve, it will be interesting to see how Boerse Stuttgart adapts and grows its business.
FAQs
Q: What percentage of Boerse Stuttgart’s revenue comes from cryptocurrency trading?
A: Approximately 25%
Q: What was the cryptocurrency trading volume for Boerse Stuttgart in 2024?
A: The volume “almost tripled” in 2024 to record its best performance ever.
Q: What is the total value of cryptocurrency assets held by Boerse Stuttgart?
A: €4.3 billion ($4.45 billion)
Q: What is the dominant cryptocurrency in terms of revenue for Boerse Stuttgart?
A: Bitcoin, accounting for nearly 50%
Q: How many cryptocurrency trading clients does Boerse Stuttgart have?
A: Over one million
