Boerse Stuttgart, one of Germany’s leading stock exchanges, has seen its cryptocurrency trading explode in recent years to now account for approximately 25% of its total turnover.
Without disclosing the exact cryptocurrency trading volume, the exchange group shared in a press release late last year that the metric “almost tripled” in 2024 to record its best performance ever. In custody, Boerse Stuttgart had about €4.3 billion ($4.45 billion).
The relative success of the exchange’s crypto business comes alongside a backdrop of spot ETF mania in the US, where the launch had inflows of $36.2 billion by 2024.
Bitcoin accounted for nearly 50% of the exchange’s cryptocurrency revenue, according to the firm’s CEO Matthias Voelkel, who told global news agency Agence France-Presse (AFP) that the exchange has spent the past five years growing its cryptocurrency trading platform.
The exchange’s focus on attracting both professional and retail investors in the German-speaking world has apparently proved fruitful, as the platform has now managed to attract over a million cryptocurrency trading customers.
According to AFP, Voelkel himself invested in bitcoin after considering the benefits of the blockchain technology that underpins the cryptocurrency and over a belief that its popularity will continue to grow.
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 reached out to Boerse Stuttgart but did not hear back by press time.
