Standard Chartered Initiates Bitcoin and Ethereum Trading

Standard Chartered Bank has permitted institutional clients to trade Bitcoin and Ethereum, as stated in a press release.

The major British financial conglomerate has become the first among systemically important organisations to launch regulated cryptocurrency trading with physical delivery.

Corporate clients of Standard Chartered, investment funds, and asset managers can trade in XBT/USD and XET/USD pairs through the standard FX interface in the bank’s UK division.

“Demand for regulated digital asset solutions is growing, and we are ready to offer clients the necessary tools,” stated Standard Chartered CEO Bill Winters.

Third-party storage and Standard Chartered’s own custodial service, Zodia Custody, launched in 2020, are available for settlements.

The bank also plans to add non-deliverable forwards (NDF) soon.

Institutions Opt for Bitcoin, Retail Favors Memecoins

Experts at Wintermute have highlighted significant differences in the investment strategies of retail and institutional participants amid the bull market, reports The Block.

Large players are increasing their investments in Bitcoin and Ethereum, with about 70% of their portfolios allocated to these high-capitalisation cryptocurrencies. For retail investors, this figure has dropped to 37%.

“This is not a temporary trend but a sign of market maturity. Institutions view crypto assets as macro assets, while retail continues to seek high-yield but risky opportunities,” noted Wintermute CEO Evgeny Gaevoy.

Relatively new memecoins like BONK, WIF, and POPCAT are particularly popular among retail investors. “Old-timers” DOGE, SHIB, and PEPE remain leaders in the GMCI MEME index.

Currently, several applications for launching spot Dogecoin-ETF are under review by the US Securities and Exchange Commission. According to Wintermute analysts, a positive decision from the regulator could further boost retail demand for meme tokens.

Back in May, Standard Chartered partnered with crypto broker FalconX.