Wintermute Says Institutions Drove 72% Of Its Spot OTC Volume In H1 2026

Institutional investors accounted for 72% of Wintermute’s spot OTC trading volume in the first half of 2026, up from 59% a year earlier, showing how professional capital is becoming a larger part of crypto trading flow. The figures come from Wintermute’s own OTC flow report, so they should be read carefully. This does not mean institutions make up 72% of global Bitcoin spot trading. It means institutional clients represented 72% of spot volume on Wintermute’s OTC platform during the period. That distinction matters, but the signal is still important. Large traders, funds, market makers, corporates, and structured product desks are increasingly active in the parts of the crypto market that do not always show up cleanly on public exchange order books. For more details, visit the official Wintermute platform. TL;DR Wintermute says institutional clients drove 72% of its spot OTC volume in H1 2026. That is up from 59% in H1 2025. The figure reflects Wintermute’s own OTC platform, not the entire global crypto market. Why OTC Flow Matters Over-the-counter trading is where large buyers and sellers often go when they do not want to push directly through public exchange books. An institution...