Germany’s leading stock exchange, Boerse Stuttgart, has reported a significant increase in its cryptocurrency trading business, which now accounts for around 25% of the exchange’s total revenue.
The exchange group achieved its best performance to date, almost tripling its cryptocurrency trading volume, according to a press release issued at the close of 2024. Although specific figures were not disclosed, Boerse Stuttgart said it had 4.3 billion euros ($4.45 billion) in cryptocurrency storage.
This notable growth coincides with a broader wave of excitement surrounding crypto spot exchange-traded funds (ETFs) in the United States, which is set to see $36.2 billion in inflows in 2024.
Bitcoin has become the dominant cryptocurrency on the platform, accounting for around 50% of its crypto-related revenue. Boerse Stuttgart CEO Matthias Voelkel attributed this success to the exchange’s strategic efforts to develop its cryptocurrency trading platform over the past five years.
Voelkel, who has personally invested in Bitcoin, expressed his confidence in the long-term potential of blockchain technology and the growing popularity of cryptocurrencies.
The exchange’s focus on attracting both professional and individual investors from German-speaking regions has paid off, and the cryptocurrency platform now serves over a million trading clients.
*This is not investment advice.
